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Andrew Bailey: Bank of England still has firepower to support recovery

The governor said the BOE still has scope to loosen policy, including by cutting rates into negative territory and expanding the range of assets it buys

The Bank of England has multiple ways to support the UK economy in the months ahead if recovery from the coronavirus pandemic disappoints, Bank of England governor Andrew Bailey said on 28 August.

“We are not out of firepower by any means,” Bailey said in a speech to the Federal Reserve Bank of Kansas City’s annual Jackson Hole economic symposium, according to a text of his remarks. The conference is being held online this year because of the pandemic.

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