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BoE won't print money to fund UK fight against coronavirus - Bailey
The Bank of England will not resort to irreversibly printing money in order to fund a surge in government spending as it tries to shield Britain’s economy from the coronavirus crisis, its governor Andrew Bailey said on Sunday. The BoE last month ramped up its bond-buying programme by a record 200 billion pounds ($245.2 billion), similar to moves by the Federal Reserve and the European Central Bank as central banks around the world scrambled to limit a deep recession. The next day, finance minister Rishi Sunak announced the British state would pay 80% of the wages of workers who are temporarily laid off by ... (full story)