Thursday, 2 April 2020

Covid-19 and support for businesses - Bank of England

A Message from the Bank of England

We hope very much that your families and businesses are coping with the various stresses being placed upon you during this very difficult time.

The Bank is doing what it can, and has implemented a range of measures in recent days, some of which are in collaboration with HM Treasury and some in coordination with other central banks e.g. lowering interest rates and enacting measures to help banks continue to lend to households and businesses, ensuring liquidity in global $ markets, and implementing a Coronavirus Corporate Financing Facility (CCFF).

Other parts of the official sector have also made considerable efforts to ease the impact of coronavirus on the economy and public wellbeing, along with the steps being taken by companies and households themselves.

We, the Bank’s agents, will do what we can by continuing to gather intelligence from businesses to help policymakers understand what is going on at ground level.  In the main, our usual individual company meetings are continuing, but by telephone rather than face to face.

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