Bailey warns UK economy could be hit harder than first expected

Anna Fedorova
Bailey warns UK economy could be hit harder than first expected

Andrew Bailey, the governor of the Bank of England, has warned the UK economy could suffer worse "scarring" from the coronavirus crisis than originally predicted in August. Speaking in front of the Treasury Select Committee, the governor said the outlook for the UK is facing a "record level" of uncertainty, rendering any forecasts made for the recovery unreliable. One of the biggest fears is that the public would exercise "natural caution" in the face of the continued coronavirus threat...

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