Economy9 hours ago (Sep 02, 2020 10:00AM ET)
LONDON (Reuters) – Bank of England interest-rate setter Gertjan Vlieghe said there was a material risk that it could take several years for Britain’s economy to return to full capacity after its coronavirus shock.
Vlieghe said in an annual report to lawmakers that some sectors might not be able to return to their pre-pandemic size, leading to a reorientation of the economy.
“Based on these considerations, there is a material risk in my view that it could take several years for the economy to return to full capacity and inflation to return sustainably to target, even with monetary policy at its current settings,” he said in the report.
The BoE said in August it expected Britain’s economy to recovery its pre-COVID-19 size by the end of next year.
UK economy might take years to recover from COVID hit-BoE’s Vlieghe
By Reuters – Sep 02, 2020
(Reuters) – San Francisco Federal Reserve President Mary Daly on Wednesday urged more government investment in roads, bridges, digital infrastructure, education, climate…
By Reuters – Sep 02, 2020
By Alwyn Scott NEW YORK (Reuters) – Asian equities were set to open higher on Thursday after stronger U.S. economic data and the prospect of additional U.S. stimulus prompted…
By Reuters – Sep 02, 2020
By Jonnelle Marte and Ann Saphir (Reuters) – U.S. business activity and employment ticked up through late August, the Federal Reserve said on Wednesday, but economic growth was…
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.