Bank of England, facing COVID and Brexit, ramps up stimulus again ...Middle East

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Bank of England, facing COVID and Brexit, ramps up stimulus again
source : Yahoo ( Middle East ) () 14
The Bank of England increased its already huge bond-buying stimulus by a bigger-than-expected 150 billion pounds ($195 billion) as it prepared for economic damage from new coronavirus lockdowns and the looming risk of Brexit. The BoE raised the size of its asset-purchase programme to 895 billion pounds ($1.16 trillion), 50 billion pounds more than expected by most economists in a Reuters poll. The bank cut its forecasts for Britain's economy, which it now expects to exceed its size before the COVID-19 pandemic only in the first quarter of 2022.

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