personal finance

Furlough scheme 'to be extended beyond December' – Rishi Sunak to make statement today

The Monetary Policy Committee (MPC) voted unanimously to maintain the Bank Rate at 0.1 percent.

The Committee also voted for the Bank of England to continue with the existing programme of £100billion of UK government bond purchases, and to expand its quantitive easing programme to boost the economy by an additional £150billion.

It takes the total stock of government bond purchases to £875billion.

Reacting to the news today, Jeremy Thomson Cook, Chief Economist at Equals (part of the Equals Group) said: “The Bank of England has increased its quantitative easing plan this morning, adding support through 2021 and acknowledging that the double whammy of COVID-19 and Brexit means the UK economy is in for an ‘unusually uncertain’ time.


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