The coronavirus crisis has led to a massive loss of lives and livelihoods and will leave lasting scars, Andy Haldane, the Chief Economist of the Bank of England (BoE), said on Wednesday, as reported by Reuters.
Additional takeaways
“Recovery, rebalancing, revitalisation are more important than ever, so too is the need for optimism.”
“UK economy surpassed expectations in the third quarter.”
“Economic prospects for Q4 are very uncertain.”
“Economic activity very likely to be below levels at the start of the year.”
“Economic prospects for next year are perhaps materially brighter than expected a few weeks ago.”
Market reaction
The GBP/USD pair ignored these remarks and was last seen gaining 0.35% on a daily basis at 1.3290.
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