Leeds Business School | Blog

Economic policy under the coronavirus: an unconventional challenge

The COVID:19 (aka coronavirus) is hitting all aspects of human civilisation, including the global economy and international financial system.

 The outbreak of the pandemic has led to a sharp reduction in economic activity and turmoil in the financial markets. Its adverse economic impact is being felt at present and will continue in the days, months and years ahead. To minimise the damage, central banks and governments have tried to step in, with a substantial increase in monetary easing. The Bank of England has decreased the bank rate to 0.1% and launched a new Term Funding Scheme with additional incentives for small and medium enterprises. The financial-policy committee of the Bank of England has also reduced the countercyclical capital buffer for UK banks to a 0% rate for at least 12 months, with an expectation that it will result in a substantial increase in lending.

Read the full article here.

 

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About the Author

Dr Muhammad-Ali Nasir

Dr Muhammad Ali Nasir has worked as a Senior Lecturer atLeeds Beckett University since 2012. He has a PhD in Economics and is greatly interested in the area of Financial Economics and Macroeconomics. He is an active researcher and has published in a number of reputable journals in the last few years. Dr Nasir is also involved in research supervision of masters and doctoral level students.

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