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Andy Haldane, the Chief Economist of the Bank of England (BoE), said on Friday that the latest BoE forecasts point out to a “pretty strong” recovery both in the economic activity and inflation in 2021, as reported by Reuters.

Haldane further noted that he expects coronavirus vaccines to lead to the “lion’s share of fall” in the mortality and hospitalization rates by the end of the second quarter.

Market reaction

The GBP/USD pair edged slightly higher after these comments and was last seen trading at 1.3695, where it was up 0.2% on a daily basis.