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An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	British economic output is set to crash 14 percent this year owing to the coronavirus, the Bank of England said Thursday as it left its interest rate at 0.1 percent. UK gross domestic product would rebound by 15 percent in 2021 however, the BoE said following a meeting that took place Wednesday. Following the COVID-19 outbreak, the Bank of England slashed its main interest rate to a record-low 0.1 percent and decided to pump £200 billion ($244 billion, 226 billion euros) into the UK economy to get retail banks lending to businesses at risk of collapse. Two members of the nine-strong Monetary Policy Committee, but not governor Andrew Bailey, voted at the latest meeting to increase the stimulus by a further £100 billion. "Without further monetary stimulus, there could be greater scarring effects on the economy via both demand and supply channels," Jonathan Haskel and Michael Saunders argued, according to minutes of the meeting. For the entire year, the Bank of England forecast that GDP would plunge 14 percent despite picking up "materially in the latter part of 2020 and into 2021 after social distancing measures are relaxed". After a sharp rebound of 15 percent in 2021, output is forecast to grow by 3.0 percent in 2022, the BoE added. British Prime Minister Boris Johnson was on Sunday set to outline plans on easing Britain's nationwide lockdown, with initial restrictions expected to be lifted from next week. The country's official virus death toll has overtaken Italy's to become the highest in Europe, with more than 32,000 fatalities related to COVID-19 -- behind only the United States in the global tallies. It comes amid reports that finance minister Rishi Sunak is looking into tapering the government's furlough scheme that is paying UK workers stuck at home. Latest government figures showed 6.3 million people were being paid up to 80 percent of their salaries, costing the taxpayer £8.0 billion. IAG, the owner of British Airways and Spanish carrier Iberia, meanwhile said Thursday that it had fallen into a net loss of 1.68 billion euros ($1.8 billion) during the first quarter, as the pandemic grounded planes worldwide. bcp/rfj/wai
schema:headline	UK economy to slump 14% this year on virus: BoE
schema:mentions	Iberian Peninsula Furlough Interest rate 2020 coronavirus outbreak in Singapore England national football team British Airways David Cameron Social distancing Rishi Sunak Spain Boris Johnson Gross domestic product Italy Lockdown European Union Pandemic Virus United Kingdom United States Coronavirus Coronavirus disease 2019 Jonathan Haskel Michael Saunders Andrew Bailey (baseball) Monetary Policy Committee (United Kingdom) International Airlines Group
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-05-07 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	71 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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