Bank Governor Mark Carney press conference on interest rate cut

The press conference discusses the Bank of England's response to COVID-19, highlighting the challenges faced by the UK economy and the measures being implemented to support businesses and households. The Bank announces a comprehensive package to mitigate economic disruption, emphasizing coordination with government initiatives and continuity in policy. A significant measure includes reducing the Bank rate to bolster cash flows and confidence. The decisions are unanimous, focusing on aiding smaller businesses and addressing both demand and supply shocks.

Who is the next governor of the Bank of England mentioned in the press conference?

• Her Majesty

• Mike Carney

• Andrew Bailey

• Mark Carney

What is the primary goal of the Bank of England's measures announced during the press conference?

• To support UK households and businesses

• To promote international trade

• To increase taxes

• To reduce government spending

Why is the Bank of England acting on budget day?

• To surprise the public

• To delay economic measures

• To avoid media attention

• To align with the Chancellor's initiatives

What specific action did the MPC take to support the economy?

• Introduced new taxes

• Reduced the Bank rate by half a percent

• Increased interest rates

• Stopped all financial aid

How will the reduction in the Bank rate help during the economic disruption?

• By supporting cash flows and confidence

• By increasing the cost of finance

• By increasing inflation

• By reducing employment