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)