UK's Chancellor Sunak: UK is facing a recession "likes of which we haven't seen"

Market news

19 May 2020

UK's Chancellor Sunak: UK is facing a recession "likes of which we haven't seen"

Expects virus impact on labor market to be "severe"
Official forecasts point to double-digit jobless rate
Jury is out on what economy will look like after crisis
The longer the recession, the greater the likely scarring

Fed's chairman Powell: We are continuing to look at ways to accommodate additional borrowers

ECB's chief economist Lane: We are fully prepared to further adjust our instruments if warranted

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