Economics

Bank of England Weighs Up What to Throw Next at Virus Misery

Rate-setting committee to update outlook for growth, inflation
More bond buying seen likely, either this week or in June

Cyclists pass the Bank of England in the City of London, U.K., on Thursday, April 9, 2020. U.K. Prime Minister Boris Johnson spent a third night in the critical care unit where his condition is improving, as officials draw up plans to extend the lockdown in an bid to control the U.K.’s growing coronavirus crisis.Photographer: Simon Dawson/Bloomberg

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By David Goodman and Lucy Meakin

May 5, 2020 at 4:00 AM UTC

This article is for subscribers only.

Bank of England policy makers will meet this week knowing that they’ll probably have to do more to combat the U.K.’s economic slump, if not now then soon.

With the government all but certain to ramp up spending to save jobs and keep businesses afloat, Governor Andrew Bailey may signal he’s willing to buy more debt to keep borrowing costs from rising. At the current pace, the central bank will hit its current bond-buying goal around the end of June.