LONDON – The Latest on the U.K. central bank’s stimulus measures to help the economy weather the Brexit uncertainty (all times local):
The governor of the Bank of England, Mark Carney, says the stimulus package outlined Thursday to help Britain face the aftermath of the vote to leave the European Union has the scope to be increased if necessary.
Carney told a news conference that the package contains a number of mutually reinforcing elements, all of which “have scope for further action.”
The Bank of England cut its key interest rate by a quarter point to 0.25 per cent and announced the injection of 60 billion pounds in new money into the economy, on top of other measures.
Treasury chief Chancellor Philip Hammond also welcomed the action and, in a letter to Carney, added that he was “prepared to take any necessary steps to support the economy and promote confidence.”