Figure 1: Still-Subdued BoE Weekly Asset Purchases
Source: BoE, sterling billion
Indeed, he said the BoE might need to step up monetary support for the economy if the UK and the EU failed to finalize a trade deal and this led to greater economic disruption next year than the central bank’s current forecasts assume. NB: according to its updated projections unveiled last week, the BoE estimates that the economy will grow by 2.5% on average per quarter though 2021 after an assumed 2% q/q fall in the current quarter due to the fresh lockdowns.
Regardless there are few signs that the BoE is showing any actual concern at the moment given what are still sedate asset purchases including the weekly numbers announced earlier today, se chart!