FILE PHOTO: Bank of England Governor Andrew Bailey poses for a photograph on the first day of his new role at the Central Bank in London, Britain March 16, 2020. Tolga Akmen/Pool via REUTERS/File Photo
June 22, 2020
LONDON (Reuters) – Britain’s government would have struggled to raise money from financial markets in March if the Bank of England had not intervened with 200 billion pounds of asset purchases to calm markets, Governor Andrew Bailey said on Monday.
Asked by broadcaster Sky News what would have happened had the Bank not intervened, Bailey said: “I think the prospects would have been very bad. It would have been very serious.”
“I think we would have a situation where in the worst element, the government would have struggled to fund itself in the short run,” Bailey added.
(Reporting by David Milliken and Andy Bruce, Editing by Paul Sandle)
