A policymaker at the Bank of England has upheld the possible use of negative interest rates, which could lower the cost of borrowing to below zero. As countries are forced to use extreme measures to keep their economies afloat in the midst of the coronavirus pandemic, the Bank of England has signalled that it may … Read more
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Hundreds of thousands of small firms forced to close during the Covid-19 pandemic will receive payouts on insurance claims following a high court judgment in the test case brought by the City regulator. According to the Financial Conduct Authority (FCA), around 370,000 small companies are affected by the judgment and should hear from their insurer … Read more
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The UK’s recovery from the Covid-19 pandemic continued for the third month in a row in July, although the economy has regained little more than half the ground lost since the start of the crisis. The office for National Statistics (ONS) reported gross domestic product (GDP) rose by 6.6pc in July compared with the previous … Read more
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A raft of new measures will be required to boost Britain’s economy as it emerges from a temporary recovery resulting from huge government financial support and the relaxation of lockdown restrictions, according to a Bank of England policymaker. Michael Saunders, one of the nine members of the Bank’s interest rate-setting monetary policy committee (MPC), has … Read more