UK faces biggest hit from coronavirus of any major economy in the WORLD with GDP set to plunge 11.5 PER CENT this year, OECD warns – and it could be even worse if there is a second peak OECD think-tank has released latest estimates for the global economy this year UK faces the biggest hit … Read more
Bank of England ‘warns City to brace for Brexit trade talks to FAIL’ amid bitter stand-off between UK and the EU with clock running down Bank of England said to have urged City to brace for no deal in UK-EU trade talks Businesses increasingly alarmed at deadlock in the talks between the two sides EU … Read more
A THIRD of UK workforce is being subsidised by the government and job adverts fall by 50% – as Bank of England chief warns coronavirus recovery will be tough Bank of England governor Andrew Bailey has warned on hopes of bounceback New figures show online job adverts have fallen by half between March and May … Read more
Bank of England could turn interest rates NEGATIVE as part of efforts to prop up the economy amid coronavirus crisis, says governor Andrew Bailey Bank of England governor Andrew Bailey has been giving evidence to MPs He said it would be ‘foolish’ to rule out turning the Bank interest rate negative The UK government has … Read more
Chancellor Rishi Sunak warns of economic ‘scarring’ from coronavirus saying there might not be an ‘immediate bounceback’ – as he hints self-employed bailout will not carry on past June Chancellor Rishi Sunak has been giving evidence to a House of Lords committee Warned of economic ‘scarring’ from covid and recovery may not be ‘immediate’ Hinted … Read more
Government borrowing is set to soar to nearly £300billion this year with the debt mountain growing bigger than the whole economy, new estimates found today. The OBR’s latest ‘scenario’ for the crisis sticks to dire suggestions that the economy will shrink 35 per cent in this quarter – more than predicted by the Bank of England. … Read more
Bank of England warns coronavirus crisis will see GDP slump nearly 30 PER CENT in the first half of this year and push the economy to worst recession for 300 YEARS By James Tapsfield, Political Editor For Mailonline Published: 07:33 BST, 7 May 2020 | Updated: 07:49 BST, 7 May 2020 UK GDP will slump … Read more
The governor of the Bank of England today issues a stark warning that Britain should be cautious about lifting the coronavirus lockdown too early. In his first interview since taking the top job, Andrew Bailey told the Daily Mail that a premature end to the restrictions could cause a severe loss of confidence and inflict … Read more