BoE’s Bailey: Financial Markets Indicate Interest Rates Will Stay Very Low

Bank of England (BoE) Governor Andrew Bailey said on Friday that the “financial markets indicate that interest rates will remain very low.”

“People can see that we are committed to keeping markets stable via quantitative easing,” Bailey said, adding that “there is a legitimate question about what we do with quantitative easing when things return to normal.”

“It’s important that fiscal and monetary policies are coordinated.”

Regarding the economic damage due to the COVID-19 pandemic, Bailey said that the government and BoE are committed to minimise damage from the coronavirus.