Bank Of England Not Out Of Firepower, Bailey Says

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August 28, 2020

Bank of England Governor Andrew Bailey said the British central bank has more ammunition to help support the economy after its coronavirus lockdown shock, and there is evidence that big, aggressive stimulus pushes are effective.

Reuters
Last Updated: August 28, 2020, 6:58 PM IST
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LONDON: Bank of England Governor Andrew Bailey said the British central bank has more ammunition to help support the economy after its coronavirus lockdown shock, and there is evidence that big, aggressive stimulus pushes are effective.

“We are not out of firepower by any means, and to be honest it looks from today’s vantage point that we were too cautious about our remaining firepower pre-COVID,” Bailey said in remarks to an online conference organised by the Federal Reserve Bank of Kansas City.

“But, hindsight is a wonderful thing when you have it.”

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Bank Of England Not Out Of Firepower, Bailey Says

Bank of England Governor Andrew Bailey said the British central bank has more ammunition to help support the economy after its coronavirus lockdown shock, and there is evidence that big, aggressive stimulus pushes are effective.

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