Economics
BOE Walks the Line Between Quick Rebound and Fragile Job Market
- Quantitative easing target increased by 100 billion pounds
- Chief Economist Haldane dissented, voting for no change
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The Bank of England expanded its bond-buying program to counter the coronavirus slump, but kept some of its powder dry should the labor market worsen more than expected.
Policy makers led by Governor Andrew Bailey voted to boost quantitative easing by 100 billion pounds ($125 billion), while holding the benchmark interest rate at a record-low 0.1%. Chief Economist Andy Haldane favored keeping QE unchanged.