A Bank of England rate setter has signalled that more quantitative easing was on the cards as he warned that the economy may struggle to recover quickly in the face of coronavirus and Brexit.
Michael Saunders, an external member of the monetary policy committee, said more QE was “quite likely” as he warned that the outlook for jobs was “very worrying” and growth may disappoint compared with the Bank’s forecasts last month.
The Bank has taken extraordinary measures to grapple with the crisis, cutting rates from 0.75 per cent to 0.1 per cent, launching £300 billion more QE, relaxing banking regulations, providing commercial paper loans to business and flooding the financial system with liquidity.
Mr Saunders’s cautionary tone followed comments this week from Sir Dave
