I'd have thought that inflationary pressure is going to be high?
There will be some inflationary pressure. But my gut reaction is that it will be more than counteracted by reduced spending due to lockdown and reduced discretionary expenditure due to people feeling financially insecure, added to the deflationary effects of a truly epic recession. If I was the BoE Chairperson I'd be inclined to say 'fuck it, go big or go home'. I'm not, however, which is probably just as well.
Just think if they did.
They'd invest in the infrastructure of the NHS, get a green Revolution going, ease inequity, tackle poverty (of thought, food, and broadband).
Wouldn't they?
I mean. They wouldn't piss the money up a friend's wall would they?
Given how well the UK's sovereign wealth fund is doing compared to Norway's, I'm sure you're right. Wouldn't be spent on tax cuts for the wealthy. No siree. Or spent covering up the collective self-harm project that is Brexit.
There will be some inflationary pressure. But my gut reaction is that it will be more than counteracted by reduced spending due to lockdown and reduced discretionary expenditure due to people feeling financially insecure, added to the deflationary effects of a truly epic recession. If I was the BoE Chairperson I'd be inclined to say 'fuck it, go big or go home'. I'm not, however, which is probably just as well.