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Bank of England deputy governor defends interest rate cut and stimulus package – live

Discussion in 'Market News' started by Lily, Aug 5, 2016.

  1. Lily

    Lily Forum Member

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    Ben Broadbent denies package sends out message of panic

    7.54am BST

    Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

    It’s the day after the Bank of England unveiled its bigger-than-expected package of measures designed to prevent a post-Brexit recession. Deputy governor Ben Broadbent has just been on Radio 4’s Today programme defending the package.

    I can’t think of one instance where monetary easing was bad for confidence.

    The contrast between what the MPC did yesterday and what they did in July was quite stark and the fact that the additional QE measures found dissent from three policymakers does appear to suggest some division on the MPC.

    If a company doesn’t feel compelled to borrow money to invest when base rates are at 0.5%, why would it feel compelled to do so when base rates are at 0.25%?

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