Furlough uncertainty delayed BoE rate hike – Bailey

Andrew Bailey

Uncertainty over what happened to roughly a million people who were using the UK’s job-protection scheme caused the Bank of England to row back from a much-anticipated rate hike earlier in November.

More people than expected were still using the ‘furlough’ scheme when it closed on September 30, said Bank of England governor Andrew Bailey today (November 15). The monetary policy decision was a “very close call”, he told the Treasury Committee, but ultimately most policy-makers preferred to wait

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