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BOE’s Carney: We can cut rates below 0.25% to close to but above 0%

Carney is taking questions from the press now

  • Still very early to judge scale of virus impact on UK economy
  • We have anecdotal evidence of sharp fall in UK trading conditions
  • Evidence of hit to UK retailers have mounted over past ten days
  • QE and assets purchases are very much part of BOE toolkit
  • Today’s move by the BOE is a ‘big, big package’
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