direct: The former president of Goldman Sachs criticized the decision to cut the interest rate in the United Kingdom suddenly, saying it was a mistake and very early on.
And cut The Bank of England unexpectedly rate 50 basis points, With concern about the impact of the Corona virus on the country’s economy.
“Jim O’Neill,” told CNBC, “Today, Wednesday, there is a lot of evidence that the quantitative easing and low interest rates we have reached have not worked in many other countries for years.”
Valley The spread of the Chinese virus 382 people were injured, including the British Minister of Health, Nadine Doris.
O’Neill believes that the BoE move was “a mistake very early,” adding that the BoE may need a similar rate cut if demand continues to weaken due to the corona in the coming weeks.