Governor Carney mentions “special liquidity facilities” in describing “policy arsenal” to deal with coronavirus economic impact - strongly hinting at some of the special arrangements for banking system that supported economy post 2008 crisis, now returning....
This comes after Number 10 meeting this morning between Governor Carney, PM Johnson and the Chancellor Rishi Sunak on the issue of the impact of coronavirus on the economy
Carney in his speech references “coordinating with HM Treasury” over complementary “initiatives” so that “they will collectively have maximum impact” and promises collective impact will be “powerful and timely”....
... also references the MPC tracking extent to which “cash flow, cost and availability of finance and confidence” are impacted...
General message is that the Bank and Treasury have an array of tools to help banks help viable businesses that suffer coronavirus cashflow problems..
General message is that the Bank and Treasury have an array of tools to help banks help viable businesses that suffer coronavirus cashflow problems..
