Andrew Bailey says unemployment thought to be over 6% and talks down prospect of negative interest rates
The Bank of England governor, Andrew Bailey, has said the economy is in a “very difficult period” due the latest Covid-19 lockdown and it would probably delay the recovery.
In comments on Tuesday that echoed warnings from the chancellor, Rishi Sunak, a day earlier that the economy “is going to get worse before it gets better”, Bailey said it would bounce back, but only after the lockdown had ended and concerns about the spread of the virus had receded.
