Andrew Bailey is in the press today saying we've got your back. They have allowed banks to reduce the capital down from which they have to hold so as to release more funds to business etc. They uplift is equivalent to 13 times the total amount lent to all businesses in 2019.
Interest rates were slashed to 0.1%
£200 billion of QE was injected into the economy
He finishes with this.
But one thing you can be sure of is that my colleagues and I at the bank of england will do all we can to support everyone through this difficult time. We've got your back, that's our duty. We have already delivered a huge package of measures and we stand ready to do whatever we can to meet your needs and get through this together.
Bank of England
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Thor
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Re: Bank of England
Yeah, cheers for the interest rate cut. Might as well stash my money in the greenhouse and hope the sun makes it grow faster
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Re: Bank of England
Schhh - Trump will be on to that in a flash.Apple Wumble wrote: ↑Sat Apr 25, 2020 2:50 pm Yeah, cheers for the interest rate cut. Might as well stash my money in the greenhouse and hope the sun makes it grow faster