Following the Bank of England (BoE) decision to leave the monetary policy rate and Asset Purchase Facility unchanged at 0.1% and £ 895 billion respectively, the Governor of the BoE, Andrew Bailey, is making his comments on the outlook for monetary policy.
Key Comments:
“The first quarter is considerably negatively affected compared to the November forecast.”
“Reserve capacity is expected to be phased out in 2021.”
“There is a variety of opinions in the Monetary Policy Committee on how the Prudential Regulation Authority (PRA) should respond to negative rates.”
About Andrew Bailey
Andrew Bailey is the Governor of the Bank of England. He took office on March 16, 2020, at the end of Mark Carney’s term. Bailey was serving as Executive Director of the Financial Conduct Authority prior to his appointment. This British central banker was also Deputy Governor of the Bank of England from April 2013 to July 2016 and Chief Cashier of the Bank of England from January 2004 to April 2011.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
