Brits will have to cope with “easing envy” for a while yet as it appears as though when the government reviews the coronavirus lockdown next Thursday it will just publish a “road map” of how to reopen the economy rather than significantly ease the restrictions. Meanwhile, the Bank of England’s balance sheet has expanded faster than the ECB’s and may soon rise by as much as the Fed’s. In fact, it is possible that in the coming months, if not at next week’s policy meeting, the Bank will announce a further expansion in quantitative easing.
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