Coronavirus: Bank pumps £100bn into UK economy to aid recovery
The Bank of England increased its bond-buying programme by a further 100 billion pounds on Thursday (18 June) to help steer the economy away from its record coronavirus slump, but sharply slowed the pace of its purchases.
Bank policymakers voted 8-1 to increase the size of its bond-buying programme.
However, they said there was growing evidence that the hit to the economy would be "less severe" than initially feared.
The Bank's Monetary Policy Committee (MPC) also kept interest rates at a record low of 0.1%.
The UK economy shrank by 20.4% in April, while official jobs data showed the number of workers on UK payrolls fell by more than 600,000 between March and May.
Posted on 17.06.2020.
We provide services
Other useful articles
- February 2025: The UK Suspends Double Taxation Convention with Russia
- Nationality applications - guidance good character updated to clarify that applications made after 10 February 2025 that include illegal entry will normally be refused citizenship, regardless of when the illegal entry occurred
- Frequently asked questions: family member applications to the EU Settlement Scheme
- Children being sponsored by a parent or legal guardian: Homes for Ukraine
- EU Settlement Scheme status automation
- Significant changes made to guidance on sponsoring workers
Get specialist advice
Please contact with one of our immigration lawyers by phone +44 (0) 207 907 1460 (London), +971 509 265 140, +971 525 977 456 (Dubai) or complete our enquiry
Contact us
