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Financial News: BoE Ready To Increase Stimulus If Required, Says

BoE Ready To Increase Stimulus If Required, Says Bailey

11/05/2020 - 08:31:00 (RTTNews)

(RTTNews) - Bank of England Governor Andrew Bailey on Thursday said the bank is prepared to take whatever measures needed to achieve its remit.

At the press conference, he said it is important that policymakers take prompt, strong and coordinated action.

Earlier in the day, the BoE had expanded its bond purchase programme by a more-than-expected GBP 150 billion to GBP 895 billion and retained its interest rate at a record low 0.10 percent.

The bank had repeated its guidance that it does not intend to tighten monetary policy at least until there is clear evidence that significant progress is being made in eliminating spare capacity and achieving the 2 percent inflation target sustainably.

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