BoE Markets Norges Bank saudi arabia

Band-Aids For Earthquake Fissures.

...the coordinated, global firefighting effort continues.

The Saudis raised selling prices, Norway cut rates to zero, the Bank of England tipped more stimulus, and the US and China are set to discuss trade next week, as the coordinated, global firefighting effort continues. Two BOE policymakers angled to immediately announce an increase in QE by 100 billion pounds, while the other seven concurred that the rather obvious downside risks "might necessitate further monetary policy action" in the near future. Andrew Bailey was keen to note that just because no action was taken today, doesn't mean more isn't coming soon. On March 19, the BoE cut rates nearly to zero and expanded QE. That move came just eight days after the last rate cut and announcement of emergency measures. The current QE program (£645 billion) will run dry within two months. That means an announcement on topping up the program (or simply making it open-ended, which it basically is anyway) will likely come sooner rather than later. The bank also warned that the economy will likely collapse by a third by June from the start of the year - that's 30%. "While there are wide bands of uncertainty around any estimates of activity at the present time, UK GDP is expected to be
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