BoE's governor Bailey: BoE will do what's needed to help the economy

Market news

18 March 2020

BoE's governor Bailey: BoE will do what's needed to help the economy

Huge amount of uncertainty about economic outlook, working on best estimate is a challenge
We watch sterling very carefully, we take not of the recent fall
Covid corporate financing facility is first step, aims to be operation next week, could be expanded
Effect on big companies has become much starker since last week
So far, the financial system is standing up well to coronavirus
Keeping markets open is important, UK markets are not out of control
Supporting wages can be done by direct measures, Sunak has said more measures to come
Negative rates in UK would be likely to hurt bank lending and household confidence

Donald J. Trump @realDonaldTrump: "We will be, by mutual consent, temporarily closing our Northern Border with Canada to non-essential traffic"

U.S. Stocks open: Dow -5.51%, Nasdaq -5.14%, S&P -5.20%

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