The Bank of England has warned that the UK economy is heading towards its sharpest recession on record. The coronavirus impact would see the economy shrink 14% this year, based on the lockdown being relaxed in June. Scenarios drawn up by the Bank to illustrate the economic impact said Covid-19 was “dramatically reducing jobs and […]
Tag: bank of england
Pound rises after Bank of England holds steady on policy
Amid concerns of rising U.S.-China tensions, top trade negotiators Robert Lighthizer and Liu He could be speaking trade between the countries as early as next week, Bloomberg News reported, citing sources. The corporate front was busy with Europe’s first major deal since the pandemic began. Shares of Telefónica US:TEF ES:TEF rose nearly 1% after the […]