LONDON (UK) – With investors banking on the central bank to further ease the monetary policy, London’s FTSE 100 marked a rise on Wednesday. This comes after data revealed that the economy entered a recession in Q-2 with a record dip of 20% in output.
The export-fuelled FTSE 100 went up 0.3% and it was helped by a weaker pound. The mid-cap FTSE 250 remained at two-month highs.
Among the biggest economies in the world, GDP of Britain revealed the biggest contraction. However, there were signs of recovery in June after the coronavirus curbs were eased.
Bank of England Deputy Governor Dave Ramsden said a day before the data was published that the central bank would enhance quantitative easing if the economy slowed again, adding that he was confident there will be no more quarters of negative growth.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field
