LGIM: Carney 'throwing the kitchen sink' at the economy

First rate move in seven years

Only 42 days after the UK voted to leave the European Union and with the country's economy on an uncertain footing, many would say the Bank of England has decided to act by throwing the kitchen sink at the problem.

Just as in 2008, when central banks cut interest rates to cushion the fallout of the financial crisis, the BoE has cut rates to curb any uncertainty around Brexit that is plaguing the economy. Along with rate cuts, a raft of additional measures has been deployed in tandem to keep the corporate sector ticking. The BoE has not had a lot of hard data to work with to gauge the impact of Brexit. Most economic data is collected monthly or quarterly, so it has been a question of weighing up the small amount of true post-referendum economic data that has trickled through (which suggests the econ...