Bank of England: rapid GDP rebound likely as vaccines take effect

Industry News | 04/02/21

The Bank of England expects a rapid rebound of the UK economy later this year as the vaccination programme takes effect, but also announced moves to introduce negative interest rates if the recovery falters.

The Bank forecast a 4.2% slump in the first quarter, followed by a resurgence of economic activity as vaccinations allow the economy to return to brisk growth. The Threadneedle Street economists forecast that GDP will return to pre-pandemic levels by March 2022.

Source: The Guardian