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Financial News: Bank Of England New Chief Bailey Promises 'Prompt

Bank Of England New Chief Bailey Promises 'Prompt Action' On Covid-19 Shock

03/16/2020 - 12:06:00 (RTTNews)

(RTTNews) - The UK central bank will act promptly again to support the economy amid the shock caused by the spread of the coronavirus, or Covid-19, Bank of England's new chief Andrew Bailey said on Monday. The central bank was "very keen" to ensure that the temporary damage to the UK economy did not permanently impair long-term growth, Bailey said in an interview to Sky News. "That's why you saw prompt action last week, that's why you will see prompt action again when we need to take it, and the public can be assured of that," he told the broadcaster. Bailey described that the coordinated monetary action by six leading central banks on Sunday as "strong coordination among central banks" and it was due to some "pretty big dislocations" in markets. The Bank of England said it will pump more US dollar funds to the financial system at cheaper rates.

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04/05/2020 - 23:44 PM (RTTNews)
(RTTNews) - UK consumer sentiment registered its biggest fall since records began in January 1974 ...Full Story>>

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(RTTNews) - Australia will on Monday see the March inflation forecast from TD Securities, highligh ...Full Story>>

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04/03/2020 - 08:39 AM (RTTNews)
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