Furlough uncertainty delayed BoE rate hike – Bailey
Roughly a million people were still using the job protection scheme when it ended, governor says
Uncertainty over what happened to roughly a million people who were using the UK’s job-protection scheme caused the Bank of England to row back from a much-anticipated rate hike earlier in November.
More people than expected were still using the ‘furlough’ scheme when it closed on September 30, said Bank of England governor Andrew Bailey today (November 15). The monetary policy decision was a “very close call”, he told the Treasury Committee, but ultimately most policy-makers preferred to wait
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