Bank of England will be aggressive on second wave, says governor Andrew Bailey

Industry News | 09/10/20

The Bank of England will not hesitate to intervene if a rise in Covid-19 infections hits the economy, the governor said.

Teeing up the possibility of another round of quantitative easing next month, Andrew Bailey said that the Bank stood ready to respond to what “certainly looks like a second wave”.

“We must use policy actively and aggressively, and we have done that,” Mr Bailey told a European Union banking conference.

“We are by no means out of firepower and we will use that firepower properly and strongly in response to second and third waves where we feel it is necessary. There is an unprecedented level of uncertainty at the moment. And the risks, I’m afraid are very much on the downside.”

Source: The Times