Bailey warns UK economy could be hit harder than first expected

'Scarring' from coronavirus crisis expected

Anna Fedorova
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Andrew Bailey said the UK is facing a "record level" of uncertainty
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Andrew Bailey said the UK is facing a "record level" of uncertainty

Andrew Bailey, the governor of the Bank of England, has warned the UK economy could suffer worse "scarring" from the coronavirus crisis than originally predicted in August.

Speaking in front of the Treasury Select Committee, the governor said the outlook for the UK is facing a "record level" of uncertainty, rendering any forecasts made for the recovery unreliable. One...

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