recessions

Bank of England says long-term Covid hit should be LESS than previous recessions

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The long-term hit from coronavirus should be smaller than previous recessions despite the massive downturn, the Bank of England governor said today. Andrew Bailey said although the UK has suffered the worst slump in 300 years due to the pandemic the lasting impact is likely to be less than the 1980s. And he suggested unemployment … Read more

UK faces ‘recession to end all recessions’ with GDP set to plunge 30%

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The UK faces a ‘recession to end all recessions’ with GDP plunging nearly a third this quarter, experts said today – amid warnings the misery will go on as long as social distancing remains in place. The respected IFS think-tank said the scale of the nose-dive due to coronavirus lockdown will be like nothing seen … Read more