BOE’s Carney on Emergency Interest-Rate Cut: Statement

The video discusses the Bank of England's response to the economic challenges posed by COVID-19. It highlights the efforts of NHS professionals and the FCO, and outlines a comprehensive package of measures to support UK households and businesses. The Bank of England is coordinating with policy committees and the Treasury to maximize the effectiveness of its response. The video also addresses the economic impact of COVID-19, including market volatility and disruptions to supply chains. Key actions include reducing the Bank rate and launching a new term funding scheme to support small and medium-sized enterprises.

In what ways did the economic shock from COVID-19 affect demand and supply in the economy?

What is the significance of the term funding scheme (TFSME) introduced by the MPC?