BOE Brings Thursday Policy Decision Forward to Avoid Sunak Clash By Bloomberg


© Bloomberg. A pedestrian walks past the Bank of England (BOE) in the City of London, U.K., on Monday, Nov. 2, 2020. U.K. Prime Minister Boris Johnson, who on Saturday announced England will enter partial lockdown on Nov. 5, will on Monday try to fend off a looming rebellion from members of his Conservative Party by trying to reassure them the measures will only last four weeks. Photographer: Jason Alden/Bloomberg


(Bloomberg) — The Bank of England brought forward the release of Thursday’s monetary policy decision to avoid a clash with a statement from Chancellor of the Exchequer Rishi Sunak.

The decision, previously due at midday, will now be announced at 7 a.m., the BOE said. The change was made after Prime Minister Boris Johnson told the House of Commons that Sunak will spell out details of the government’s package for financial support available for England’s latest pandemic lockdown.

Most economists surveyed by Bloomberg expect a 100 billion pound ($130 billion) increase in the BOE’s bond-buying program, taking it to 845 billion pounds.

Some economists argued the curbs being introduced Thursday could prove a game-changer that prompts an even bigger stimulus move .

©2020 Bloomberg L.P.

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