Bank of England warns future of economy ’unusually uncertain’
The Bank of England has said that the future of the economy of the United Kingdom is ’unusually uncertain’ as record lows for interest rates were seen. Recovery has been slowed down due to the recent jump in COVID-19 cases even though vaccines for COVID-19 have boded well for long term growth. Rates have been held by the central bank at 0.1%.
If the Bank of England had any sense it would remove the brakes on the interest rates as the destruction either slowly sets in or smashes the public in the face. They were supposed to go negative in November, given the second lockdown damage I would say they are now supposed to be between -0.2% and -0.4%. Holding them at 0.1% is purely political as they know If they reflected the true damage rioting and pandemonium would begin. Once they have finished vaccinating Covid-19 the country will be fighting ECOvid-22.
Of.course it wouldn't. Idiots
You know what also hurt the British economy? Black Wednesday. At least this time, Britain is in more control of its future.