‘Big downside risk’ for economy warns Bailey

The governor of the Bank of England Andrew Bailey has warned that the rapid pick up of the economy is unlikely to continue.

The Bank of England has said it expects the UK’s economic slump to be less severe than first feared, but it could take longer to bounce back from the coronavirus crisis.

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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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