BoE plans can’t quell pain in a no-deal Brexit

Safe outcome: A pedestrian wearing a mask walks past the Bank of England in London. The central bank has repeatedly said that a Brexit deal is in the best interest of both sides. — AFP

LONDON: Bank of England (BoE) officials hold their final scheduled policy decision of a tumultuous year still unsure whether the United Kingdom will get a Brexit trade deal, and knowing there’s little they can do to soothe the economic pain if it doesn’t.

Economists expect monetary policy settings to remain as they are today, while acknowledging that could change if no-deal becomes a reality before then. The BoE last boosted stimulus, to counter the prolonged coronavirus crisis, just six weeks ago.