Home Business NewsBusiness Ex-bank governor Mervyn King: Rate cut won’t help

Ex-bank governor Mervyn King: Rate cut won’t help

by LLB Editor
10th Mar 20 7:23 am

Former Governor of the Bank of England, Mervyn King, tells Wake Up to Money on 5 Live that cutting interest rates will not be the answer to dealing with the economic impact of cornoavirus.

“I don’t think a further cut in interest rates now is going to do a great deal to help the situation,” he said.

“It may be a sign of reassurance but I don’t think it’s any more than that.”

“What is needed now are targeted measures to help businesses deal with a short-term crisis collapse of their cash flow and I think the Bank of England understands that very well.”

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