Explained: Bank of England predicts V-shaped economic recovery

Britain rebounding ‘sooner and faster’ than expected - but unemployment poses threat

Bank of England
(Image credit: Tolga Akmen/AFP via Getty Images)

The UK economy is on track for a faster recovery from the coronavirus crisis than previous predictions suggested, the Bank of England’s chief economist has said.

“Issuing an upbeat assessment”, Andy Haldane said there were signs of a V-shaped economic recovery - when “growth rapidly snaps back from a steep downturn in activity”, says The Guardian.

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