UPDATE 3-Bank of England holds off on fresh stimulus, sees worst slump in 300 years
The Bank of England held off
further stimulus measures but said it was ready to take fresh
action to counter the coronavirus hammering which could cause
the country’s biggest economic slump in over 300 years in 2020
before a bounceback in 2021.
The BoE said its Monetary Policy Committee kept Bank Rate at
its all-time low of 0.1% and left its target for bond-buying,
most of it British government debt, at 645 billion pounds ($797
billion).
further stimulus measures but said it was ready to take fresh
action to counter the coronavirus hammering which could cause
the country’s biggest economic slump in over 300 years in 2020
before a bounceback in 2021.
The BoE said its Monetary Policy Committee kept Bank Rate at
its all-time low of 0.1% and left its target for bond-buying,
most of it British government debt, at 645 billion pounds ($797
billion).
Posted by Reuters
