“We are already three months into recovery in the economic activity,” Andy Haldane, the Chief Economist of the Bank of England (BoE), noted on Monday and added that the UK economy had hit the floor around mid-April.
Additional takeaways
“So far so ‘V’ is still my view for the shape of the UK economic recovery.”
“The economy has probably grown on average by 1% a week.”
“About half of the slump has probably been clawed back already.”
Market reaction
These comments don’t seem to be having a significant impact on the GBP’s performance against its rivals. As of writing, the GBP/USD pair was up 0.61% on a daily basis at 1.2641.
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