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Bank of England Governor Andrew Bailey said the United Kingdom, which has been hit hard by the corona virus in Europe, but the vaccine campaign is advancing at a good pace, will recover to its pre-epidemic economic status by the end of this year. (BoE) Monday.).
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“The economy will return to where it was at the end of this year and at the end of 2019,” Bailey told BBC Radio 4 a few days before Bowe’s next monetary policy meeting.
At its February meeting, the company estimates that it will recover by early 2022.
Since then, economic indicators in the UK have not been particularly favorable: British GDP fell 2.9% in January, after a 10% decline in 2020, and a 1.2% rise in December, according to figures released by the Office for National Statistics (ONS) on Friday.
The country where more than 125,000 deaths have been confirmed since Govt-19 and the particularly epidemic country, which was found in the south of the UK in December, began a severe lockout in January, hoping to rise very gradually from last week to the end of June.
“There is no doubt that imprisonment is painful, but we see Govt’s recession,” Bailey ruled, praising the government for the pace of the vaccination program, of which 24 million out of 66 million Britons have already received first-place doses.
“However, it is interesting to note that over time the economic impact of imprisonment is fading as we embrace it,” he stressed.
Faced with financial markets’ concerns over rising inflation, Bailey said the BoE forecast model was forecast to return to 2% inflation, which is within its objectives.
© 2021 AFP