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Saunders Says Additional BOE Easing Will Probably Be Needed

  • Official sees need to ‘lean strongly’ against downside risks
  • There’s ‘certainly scope’ to expnad QE buying, Saunders says
A double-decker bus leaves light trials as it passes the Bank of England in the City of London.

A double-decker bus leaves light trials as it passes the Bank of England in the City of London.

Photographer: Simon Dawson/Bloomberg
Updated on

The Bank of England will probably need to ease monetary policy further to help combat the economic impact of the coronavirus, according to central bank official Michael Saunders.

Saunders, who sits on the BOE’s rate-setting committee, said in a speech Friday that the risks to the central bank’s growth forecasts are to the downside, and the bank should “lean strongly” against such threats. The pound initially slipped and gilts pared losses as Saunders spoke.