The Bank of England looks set to give itself at least another 100 billion pounds ($127 billion) in bond-buying firepower next week to try to stop the coronavirus crisis from inflicting further damage on Britain's economy.
LONDON - The Bank of England looks set to give itself at least another 100 billion pounds in bond-buying firepower next week to try to stop the coronavirus crisis from inflicting further damage on Britain’s economy.
That leaves bond-buying as its main weapon for tackling what could be Britain’s deepest recession in three centuries. Most economists say the Monetary Policy Committee will announce another 100 billion pound boost on June 18. Cathal Kennedy, an economist with RBC Capital Markets, expects a 200 billion pound increase, in line with the BoE’s tendency to buy more bonds than the government plans to sell.
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