A Reuters poll of economists shows expectations of a disastrous Q2 then a bounce in Q3.
UK economy to contract 17.3% in Q2
- then expand 10.5% in Q3
- economy to contract 8.7% in 2020; grow 5.5% in 2021
Expectations are that the Bank of England will hold the bank rate at 0.10% until end-2022 at least
- and the BoE is not yet done with easing, more asset purchases likely