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During its quarterly inflation report, the Bank of England struck a cautious tone with the initial statements like, “significant loss of economic output has become inevitable.”

However, following comments try to placate traders with statements like, “we expect the recovery of the economy to happen overtime, though much more rapidly than the pulback from the global financial crisis.”

Economic growth to fall sharply in 2H 2020 with the UK economy shrinking by 14% before rebounding next year.

 

More to come…