William Schomberg

IMF tells Britain to keep up COVID-19 spending, plan for tax rises

29 Oct 2020

LONDON Britain can afford to ramp up its already massive spending push to counter the effects of the coronavirus pandemic on the economy, the head of the International Monetary Fund said on Thursday.

Bank of England set to return to the stimulus pump

27 Oct 2020

LONDON Britain's darkening economic outlook looks set to push the Bank of England into ramping up its huge bond-buying stimulus programme next week for the third time since the onset of the coronavirus pandemic.

Moody's downgrades UK as COVID-19 and Brexit hit debt outlook

17 Oct 2020

Ratings agency Moody's cut the United Kingdom's debt rating on Friday over the huge economic hit from the coronavirus crisis, Brexit and the lack of clear budget plans from Prime Minister Boris Johnson's government.

UK should do more to help COVID jobless, tax rises can wait: OECD

14 Oct 2020

LONDON Britain should do more to help the unemployed find work, and fixing the huge hole in its public finances can wait until a recovery from the COVID-19 pandemic is well under way, the Organisation for Economic Co-operation and Development said.

Bank of England's Bailey does not see a 'V'-shaped recovery

13 Oct 2020

LONDON Bank of England Governor Andrew Bailey said he did not think the economy was undergoing a sharp, 'V'-shaped recovery, because of headwinds from a second wave of COVID and underlying public caution about spending and socialising after the pandemic.

UK jobless rate hits 4.5% as work-protection plan nears end

13 Oct 2020

LONDON Britain's unemployment rate rose by more than expected in the three months to August, before the end of the government's broad coronavirus job-protection plan and the imposition of new restrictions to slow the pandemic.

Bank of England asks banks how ready they are for sub-zero rates

12 Oct 2020

LONDON The Bank of England asked banks on Monday how ready they are for zero or negative interest rates, following up its announcement last month that it was considering how to take rates below zero if necessary.

UK economy stumbles in August, setting back recovery from COVID-19 slump

09 Oct 2020

LONDON Britain's economy struggled to grow in August, setting back its recovery from the coronavirus lockdown, and finance minister Rishi Sunak was due to announce more help to slow a rise in jobs losses as a second wave of COVID-19 infections hits. | Video

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