- BOE's governor Bailey: We are in a major downturn, there is no question about that
Market news
14 May 2020
BOE's governor Bailey: We are in a major downturn, there is no question about that
- Says that markets have calmed down in the past few weeks
- But there is still underlying fragility in market conditions
- Whether the downturn is 30%, or more or less - who knows
- It is reasonable to think there will be a reopening of the economy later
- It is clear that risks are to the downside
- There is a huge amount of uncertainty about economic scarring
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