Summing up comments from BOE Saunders...........>

BOE: Summing up comments from BOE Saunders earlier: On risk management grounds

alone, it would better for the Bank of England to do too much, rather than too

little in response to the impact of the Covid-19 pandemic, Monetary Policy

Committee member Michael Saunders argued Thursday.

- Saunders was one of two MPC members who voted for GBP100 billion in extra

asset purchases at the May meeting and the committee is widely expected to

support further easing at June's meeting.

- The MPC would have time and the policy tools to re-tighten policy if it

overdid the stimulus but that costs could be high if it did too little, he added

in his speech in London.

- In the Q and A he was asked repeatedly about policy alternatives to more QE,

including negative interest rates and yield curve control. He was guarded in his

responses, saying that there were pros and cons to yield curve control and, as

with negative interest rates "I wouldn't want to rule it out but would not

necessarily want to rule it in."