The pound has strengthened against the euro and the dollar after the Bank of England announced this morning that they will be boosting their quantitative easing programme by £150bn. They have launched this package to help the UK economy contend with a second lockdown and the effects of the second COVID-19 wave.
Officials left the interest rate unchanged and voted unanimously to boost quantitative easing. This comes ahead of the Chancellor of the Exchequer, Rishi Sunak, giving an update in the House of Commons later today on the government’s plans to safeguard jobs.
After finishing two weeks of intense Brexit talks yesterday, there was some mixed rhetoric regarding the state of the negotiations. Both David Frost and Michel Barnier have stated that whilst progress has been made, differences still remain over fisheries and the Level Playing Field. Talks are set to continue from Sunday until the EU summit on the 19th of November.
