The Bank of England has made it clear that policy action to cushion the economy from the coronavirus is on its way, the only questions are what, how much and when. In the face of today’s meltdown in the financial markets, the Bank may be forced to act soon. We think that in the coming days or weeks, the Bank will unveil a 25bps interest rate cut, support for supply-chain financing and cheap financing for banks lending to the most affected sectors.
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