LONDON (Reuters) – Bank of England Governor Andrew Bailey said on Monday that people should be positive about Britain’s economic prospects as it emerges from the COVID pandemic but also realistic about the challenges from structural changes.
“If I had to summarise the diagnosis, it’s positive but with large doses of cautionary realism,” Bailey said in a speech to the Resolution Foundation, a think tank.
Finance minister Rishi Sunak’s decision last week to extend furlough support until the end of September was likely to limit the peak in unemployment but was unlikely to completely stop unemployment rising after the programme ends, Bailey added.
(Reporting by David Milliken; Editing by William Schomberg)
