Business Standard

Bank of England's Ramsden sees plus for economy from Covid-19 vaccine news

The BoE this month increased its bond-buying stimulus plan by a further 150 billion pounds, something Ramsden said would act as a bridge for the economy.

bank of england

Ramsden said the economy might emerge less scarred by the pandemic than following the huge shifts in the industrial makeup of Britain's economy that took place through the 1980s and 1990s.

Bank of England Deputy Governor Dave Ramsden said on Tuesday that positive news about COVID-19 vaccines could help to reduce the risks facing Britain's economy but the central bank was unlikely to revise up its forecasts as a result.

Announcements over the last two weeks that two vaccines were effective in trials have raised hopes that COVID-19, which has infected 54 million people worldwide and killed 1.3 million, will be largely defeated over the coming year."Assuming the recent positive developments do translate into delivery of vaccinations, then they could ... bolster resilience and mitigate some of the risks of long-term scarring,"

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First Published: Nov 18 2020 | 1:27 AM IST

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