UK Economy May Need Extra Stimulus

The British economy may need extra stimulus in order to face the effects of the COVID-19 crisis, said member of the Bank of England’s (BoE) Monetary Policy Committee, Michael Saunders, Reuters reported.

“I consider it quite likely that additional monetary easing will be appropriate in order to achieve a sustained return of inflation to the 2% target.”

“It is possible that, both in the UK and globally, we will be living with COVID for much if not all of the three-year forecast period.”

“Risks probably lie on the side of a thinner trade deal, a less-smooth transition, or more persistent Brexit-related uncertainty.”