BoE's governor Bailey: Negative interest rates are in BoE's toolbox but we are not planning to use them soon

Market news

2 September 2020

BoE's governor Bailey: Negative interest rates are in BoE's toolbox but we are not planning to use them soon

Downside risk to forecast from Covid-19 is higher than Brexit risk
Very important our framework is robust enough that we can go big and go fast
Household spending now close to pre-pandemic levels but it is pretty uneven picture
Mortgage approval figures have been very strong
Switch to online retail sales in the latest data raises the question of how much is permanent structural change
So far, recovery in consumption has been very fast but the story has been weak on investment

European stocks closed: FTSE 100 5,940.95 +78.90 +1.35% DAX 13,243.43 +269.18 +2.07% CAC 40 5,031.74 +93.64 +1.90%

BoE's MPC member Ramsden: BoE can step up QE pace significantly if needed

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