Bank of England plans disappoint markets

Markets were rangebound yesterday as new case growth continued to make headlines but investors remained distracted by the abundant liquidity on offer. The Bank of England disappointed markets with a £100bn QE announcement, at the bottom end of expectations, and…

Bank of England plans disappoint markets

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Markets were rangebound yesterday as new case growth continued to make headlines but investors remained distracted by the abundant liquidity on offer. The Bank of England disappointed markets with a £100bn QE announcement, at the bottom end of expectations, and a comment that now liquidity had stabilised in the market purchases could continue at a slower pace.

Today attention will turn to the European Council meeting where the EU recovery fund remains high on the agenda. Expect discussions to tee up a potential summit in July but as we read it there has been little actual movement on the Frugal Four’s view that a recovery fund is fine but it must be loans rather than grants.

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