BOE's Bailey: There is an awful lot of risk to the downside in our forecasts
BOE governor, Andrew Bailey, speaks in a Bloomberg TV interview
- UK has 'a lot of yards' to make in recovery
- BOE ready to support the economic recovery
This reaffirms his message earlier in the day here alongside his warning that one shouldn't be deceived by the rebound in the UK economy so far.
To be fair, Bailey is telling it as it is considering the fact that the government's furlough program is still largely masking the actual underlying conditions surrounding the domestic economy for the most part - especially the labour market.