A deep depression is imminent in England. The Bank of England intends to counter this with further measures.
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The essentials in a nutshell
- As the financial crisis unfolds, the Bank of England wants to stabilize markets.
- The Bank of England is “ready” to buy more government bonds.
- To create prosperity, the British government wants to cut taxes.
Bank of England It has announced additional measures to stabilize markets in view of the impending financial crisis resulting from the declared national debt. She keeps herself “ready,” that is Purchase program for long-term government bonds Continue, explained Bank of England on Monday. The previous purchase plan expires on Friday.
The central bank launched the program in late September after interest rates on government bonds rose. This is due to announcing expensive measures Against inflation By the British Government. Among other things, London wants to boost economic growth with tax cuts and increases inflammation Dampening thus the government debt is likely to rise.
The purchase limit has increased to £10 billion per day
The Bank of England Initially the purchase program was limited to five billion pounds per day. The daily limit has now been increased to ten billion – so far the bank has not exhausted the maximum. Since September 28, he has bought a total of five billion pounds worth of bonds.
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