13 January 2021 - UK economy to worsen before recovery starts

"Bank of England Governor Andrew Bailey spoke yesterday about his concerns for the recovery from the Pandemic as case numbers and fatalities continue to rise. Bailey echoed the sentiments of Chancellor Rishi Sunak in commenting that the economy will suffer further before any improvement starts. Bailey is encouraged by the rollout of the vaccination programme but sees that as a medium-term benefit while the current lockdown measures are hitting the retail and hospitality sectors particularly hard. The trajectory of any recovery has been significantly flattened by the latest restrictions and a double-dip recession cannot be ruled out. Bailey expects the performance of the economy to be broadly in line with the Bank’s economic forecasts which were last updated in November. " Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.