BOE ready to use political strength to limit impact of Corona's 2nd Wave

Bank of England Governor Andrew Bailey said today that risks to the British economy are trending largely in the downside and that the central bank is ready to use its political strength to curb the impact of the second wave of the coronavirus pandemic.

The UK central bank has cut interest rates to a record low of 0.1% since the start of the Coronavirus crisis, and the bank has also announced the purchase of an additional £ 300 billion in government bonds.

"We must actively and forcefully use politics, we are in no way outside the firepower of our policy tools and we will use this firepower appropriately, correctly and robustly," Bailey said at a press conference.