British Finance Minister Rish Sunak said that the government will provide 330 billion GBP worth of guaranteed loans for business to battle the coronavirus outbreak. “If demand is greater than that, will provide as much as capacity as is required,” Sunak told reporters during a press conference. “Will support liquidity for larger firms, there will be a new lending facility.” Key takeaways “Coronavirus is also an economic emergency.” “We have never faced an economic fight like this.” “We promise to do whatever it takes to support the economy.” “This struggle will not be overcome by a single package of measures.” “This national effort will be underpinned by government interventions in the economy on a scale unimaginable before.” “We will support jobs and incomes. We will support business, we will do whatever it takes.” GBP/USD reaction The British pound erased a small portion of its losses against the dollar on these remarks. As of writing, the pair was trading at 1.2089, still erasing 1.45% on a daily basis. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD hits fresh multi-years lows near 0.5950 FX Street 2 years British Finance Minister Rish Sunak said that the government will provide 330 billion GBP worth of guaranteed loans for business to battle the coronavirus outbreak. "If demand is greater than that, will provide as much as capacity as is required," Sunak told reporters during a press conference. "Will support liquidity for larger firms, there will be a new lending facility." Key takeaways "Coronavirus is also an economic emergency." "We have never faced an economic fight like this." "We promise to do whatever it takes to support the economy." "This struggle will not be overcome by a single package of measures." "This… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
