The Bank of England is set to unveil another $125 billion stimulus package as it fights coronavirus
- The UK’s central bank is expected to add another $125 billion of monetary stimulus to boost its asset purchase program and stabilize the economy, the Financial Times reported on Wednesday.
- The Bank of England’s Monetary Policy Committee is scheduled to announce its latest monetary policy decisions on Thursday, with an extension of quantitative easing likely.
- Data released Wednesday by the country’s statistics authority showed UK inflation dropped to a four-year-low of 0.5% in May as prices for fuel and other retail goods continued to fall.
- With the UK economy shrinking by 20% in April and further job losses in May, the central bank is facing intense pressure to do more to shore up the economy.
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The Bank of England is expected to inject another fresh dose of stimulus worth about £100 billion ($125 billion) to financial markets, the Financial Times said Wednesday.
The UK’s central bank is scheduled to announce its latest monetary policy decisions on Thursday, after a Wednesday meeting of the Monetary Policy Committee (MPC), with an extension of quantitative easing likely announced. …continued .
[Source: Business Insider]