Thread by @CommonsTreasury

One hour to go until our evidence session with Andrew Bailey, Governor of the Bank of England, starts.

We'll also hear from @bankofengland representatives Ben Broadbent, Sir Jon Cunliffe, Elisabeth Stheeman & Jonathan Haskel.

📺Watch it live at 2.30pm:

parliamentlive.tv/Event/Index/e3…

Our evidence session with the Bank of England is just about to start.

Watch it live here: parliamentlive.tv/Event/Index/e3…

We're underway with Andrew Bailey and his Bank of England colleagues.

Watch it live here:

parliamentlive.tv/Event/Index/e3…

First up, Chair @MelJStride asks Andrew Bailey how banks are dealing with the stress of #coronavirus.

Watch it live here: parliamentlive.tv/Event/Index/e3…

Asked by @FelicityBuchan if the Bank of England would contemplate negative interest rates, Andrew Bailey said "we do not rule things out as a matter of principle", but "we do not rule things in either."

He added: "Now is the right time to review all the tools we're using."

. @ab4scambs asked Deputy Governor Ben Broadbent what sort of economic bounce back there will be?

Ben Broadbent said that in the Bank of England's scenario, the recovery takes a lot longer than the downturn, which doesn't sound much like a V-shaped recovery.

.@Siobhain_Mc asks where are the cracks in the Government's #coronavirus support programmes for households, is it #newstarterfurlough and #ForgottenLtd?

Jonathan Haskell said that it's more of a fiscal issue than a monetary one.

Asked by @rushanaraali what a more pessimistic economic scenario means for constituents, Andrew Bailey said that the Bank of England is doing everything it can; it has acted rapidly with a lot of firepower.

"We're doing everything we can to support the economy".

Asked by @angelaeagle whether the Bank of England has temporarily abandoned its inflation target, Andrew Bailey said "no".