Economics
BOE Sees Rapid U.K. Rebound With Johnson’s Vaccine Push
- Officials kept monetary stimulus settings in place for U.K.
- Negative interest rates could eventually be activated
The Bank of England (BoE) in the City of London, U.K.
Photographer: Chris J. Ratcliffe/BloombergThis article is for subscribers only.
The Bank of England said the U.K. economy is heading for a rapid pickup in light of a bold vaccination effort, a sign that the stifling grip of the coronavirus crisis on growth may finally start to ease.
Despite lowering its outlook for the year, the central bank sounded an optimistic note on its hopes of a powerful rebound. The Monetary Policy Committee also kept stimulus in place and agreed as a contingency that banks should prepare for the possibility of negative interest rates.