AIM IP specialist Tekcapital to sell or float all four portfolio companies 'within 2 years'. Watch the full video here

Less Ads, More Data, More Tools Register for FREE

Bank of England's Bailey sees no V-shaped recovery

Tue, 13th Oct 2020 15:24

LONDON, Oct 13 (Reuters) - Bank of England Governor Andrew
Bailey said he did not think the economy was undergoing a sharp,
V-shaped recovery, because of headwinds from a second wave of
COVID and underlying public caution about spending and
socialising after the pandemic.

"A 'V' is really not the way I look at it in terms of what
we face going ahead," Bailey told the House of Lords' Economic
Affairs Committee. "The recovery will take time."

Economic output at the end of September was probably 9-10%
below its level a year earlier, he added, compared with a 22%
shortfall at the end of June.
(Reporting by William Schomberg and David Milliken, editing by
Estelle Shirbon)

More News

UPDATE 1-EU has not yet ordered more AstraZeneca vaccines, says internal market commissioner

(Adds extra cost for Pfizer vaccine, background)PARIS, May 9 (Reuters) - hThe European Union has not yet made any new orders for AstraZeneca vaccines beyond June when their contract ends, European Internal Market Commissioner Thierry Breton said o...

Today 13:27

EU's Breton: EU did not renew Astrazeneca COVID-19 vaccine order for after June

PARIS, May 9 (Reuters) - European Internal Market Commissioner Thierry Breton said on Sunday the European Commission did not renew its order for AstraZeneca vaccines against COVID-19 for after June.The European Commission last month launched legal...

Today 11:30

ECB's Rehn calls for change to ECB’s inflation target in line with Fed approach- FT

May 9 (Reuters) - The European Central Bank should follow the U.S. Federal Reserve by accepting an overshooting of its inflation target to make up for many years of sluggish price growth, Finnish central bank chief Olli Rehn told the Financial Ti...

Today 11:19

UK PM calls summit as Sturgeon says 2nd referendum is will of Scotland

UK PM calls summit as Sturgeon says 2nd referendum is will of Scotland

Today 09:49

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.