BoE expands asset purchases as UK locks down again
MPC publishes more pessimistic forecast of 11% growth contraction and high unemployment
The Bank of England will increase its asset purchases by £150 billion ($195.5 billion), after the government reimposed a national lockdown, it announced today (November 5).
The BoE’s monetary policy committee unanimously voted to increase the stock of government bonds to £875 billion. It also published economic forecasts that are considerably more pessimistic about the length and depth of the UK’s economic contraction.
The UK government announced at the weekend that England would go back into
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