Bank of England say economic recovery following coronavirus is under way but admit risks remain

The economy is bouncing back from Covid-19 as businesses reopen and shoppers get spending but big risks remain over the recovery, the Bank of England said on Thursday.

Andrew Bailey, the Governor, and his colleagues voted to hold interest rates at 0.1pc, the record low reached in March, and held fire on a further expansion of its £745bn money-printing programme.

The Governor added that a move towards controversial negative interest rates was “in the tool box”, but that there were no plans to use them for now.

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In This Story: Bank of England

The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government’s banker, and still one of the bankers for the Government of the United Kingdom, it is the world’s eighth-oldest bank.

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