Sat. Jun 15th, 2024
Bank of England warns of Coronavirus and Brexit damage to economy - BBC News

The Bank of England has warned that the economy is again shrinking sharply and won't get back up to its pre-Covid level until the start of 2022.

It’s preparing to pump an additional £150 billion into the UK economy to soften the impact of more lockdowns.

The Bank’s Governor Andrew Bailey also warned that Brexit would harm economic growth in the first six months of 2021 - even if there is a trade deal with the European Union. He said many firms hit by Covid are not prepared for new border checks.

Sophie Raworth presents BBC News at Ten reporting by economics correspondent Andy Verity and business editor Simon Jack.

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