Bailey says BoE ‘will do what it takes’
BoE governor echoes Draghi after sterling plunges despite creation of new lending facility
The Bank of England’s governor, Andrew Bailey, announced it was prepared to “do what it takes” to safeguard the UK’s economy from the worst effects of the coronavirus.
The BoE and the UK’s Treasury launched a new lending facility in response to Covid-19 on March 17 to help firms address possible funding problems. But after sterling fell today (March 18) to its lowest level against the dollar since 1985, Bailey stepped up the BoE’s rhetorical commitment. In language that seemed to consciously
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