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Bank of England latest report shows negative impact of Covid-19 on economy

The Bank of England has published its latest Monetary Policy Report and an interim Financial Stability Report.

Together, they provide a scenario for the path of the UK economy in the light of Covid-19 and assess the financial system’s resilience to that scenario.

The data shows that the current pandemic is drastically reducing jobs and incomes in the UK,  but that keeping interest rates low is helping both households and businesses and encouraging banks to expand lending. This, in turn, will help the economy recover.

More information and the full report is available here.

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