Comments by BOE MPC member, Ben Broadbent
- Hard to think distinctly about the hit to demand, supply
- Sees 'powerful demand effects' as a result of the virus impact
- BOE stimulus designed so that hit to demand does not outstrip that to supply
- Size of virus hit is 'very, very material'
Some token remarks there by Broadbent. Nothing that really stands out from the above. But best be sure that if liquidity strains start cropping up more persistently, one can expect the BOE and other central banks to step in once again.
Broadbent adds that a 35% drop in Q2 GDP is unfortunately 'not an unrealistic number'.
