When economic times are hard, people worry about losing their jobs, and grow wary about spending money. Businesses see their customers staying away. They start losing money, and may have to lay off workers.
Normally, the Bank of England would try to make things better by lowering interest rates.
Lower rates mean you get less interest on your savings, so it's less attractive to save money than to spend it. And lower interest rates make it cheaper to borrow money, so it's easier to buy a new house, or car, or expand your business.
People buying things and businesses investing helps the economy stay healthy, protecting jobs.
But interest rates are currently just above zero - there's no scope for another big cut.
Will Quantitative easing help us ?.
please let me know your thoughts
Ian Nolan 18/6/2020