Signals the intention in a ITV interview
The BOE governor Bailey signal an interview with ITV at the BOE is likely to increase government bond purchases.
He also said:
- Latest data confirms that we've got a very sharp move into recession
- Negative interest rates is not a tool we think we would use
- Pretty clear that the markets basic assumption is that there probably will be some more QE
- Risk of big 2nd coronavirus spike is that it could damage public confidence in ways that would then have a much longer lasting effect
- Government is right in my view to be duly cautious about 2nd spike
The acknowledgment is not all that earth shattering. The GBPUSD trades at 1.2229. It is trading between close resistance at 1.2250 and support at 1.2200.
