Comments by BOE policymaker, Gertjan Vlieghe
- Economic contraction is faster, deeper than anything in the past century
- Central banks using balance sheets does not detract from independence
- Not a simple supply shock, consequently far more scope for active policy response
- Once pandemic is over, UK economy should return approx. to pre-virus trajectory
He's not diving into anything too specific on policy outlook and what other course of action the BOE may pursue. His full speech can be found here.
