CBI responds to Bank of England Monetary Policy Committee decision to extend asset purchases

Alpesh Paleja, CBI Lead Economist, said:

“The Bank of England have today built on their already hefty policy response to the economic downturn. The Monetary Policy Committee are clearly getting ahead of the large downside risks to the outlook, and the prospect of longer-lasting damage to the economy.

“As lockdown is eased, effectively curbing the pandemic and ensuring businesses remain supported must go hand-in-hand. Along with the weight of monetary policy, implementing a recovery plan which creates jobs and reskilling opportunities which support sustainable growth in the long-term will be essential.”