Tag: Bank of England
“We are also seeking to understand whether there may be potential for short-term solutions or workarounds, as well as permanent systems changes,” he said.
Following the announcement of a national disaster in response to COVID-19 by president Cyril Ramaphosa yesterday, most were left wondering if finance minister Tito Mboweni would be announcing a stimulus package today but instead this is what the minister had to say.
Globally central banks are responding to the devastation that coronavirus is causing to their economies. The Bank of England reduced its interest rate ahead of its scheduled meeting and now the US Federal Reserve has introduced a stimulus package to shield their economy from the impact of coronavirus. But is this enough to stave off long term economic harm? Jameel Ahmad, Global Head of Currency Strategy and Market Research at FXTM joins CNBC Africa for more.
The Bank of England's Chief Economist bemoaned the inherent risks of placing too much faith in economic forecasting.