BoE's governor Bailey: 2021 GDP will recover strongly to pre-Covid levels

Market news

6 May 2021

BoE's governor Bailey: 2021 GDP will recover strongly to pre-Covid levels

Risks to forecast are to the downside in the first year
There is uncertainty about the scale of slack in the UK economy
Too early to judge short and long term effects of Brexit
MPC believes that trade will be lower in H1 2020 due to Brexit
Risks to inflation projection are broadly balanced
Inflation expectations remain well-anchored
CPI to rise above 2% at end of the year due to transitory developments
MPC will focus on medium-term inflation risks, not transitory risks

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