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The stretched fiscal situation of governments around the world may hinder full recoveries from the coronavirus crisis, Bank of England (BoE) policymaker Silvana Tenreyro said on Wednesday, as reported by Reuters.

Additional takeaways

“Work-from-home trend could bring productivity gains in the medium term.”

“Shift to online shopping could bring productivity gains too.”

“Risks for Europe, United States, UK is that we undershoot inflation targets.”

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 0.13% on the day at 1.2894.