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Bank of England to Pump £100bn Into UK Economy After COVID-19 Downturn

Source: Szu Ping Chan, bbc.com, June 18, 2020

The UK economy shrank by 20.4% in April,  and the number of workers on payrolls fell by more than 600,000 between March and May.

Bank policymakers voted 8-1 to increase the size of its bond-buying programme.

However, they said there was growing evidence that the hit to the economy would be “less severe” than initially feared.

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