Bank of England rate maker sets out gloomy economic forecast

It is better for Bank to risk too much stimulus rather than too little, says Michael Saunders

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Britain risks a long period of low growth and high unemployment as the economy stutters back to life, a Bank of England policymaker has warned.

Michael Saunders, a member of the Bank's monetary policy committee, said the searing experience" of the coronavirus crisis would leave its mark long after the lockdown was lifted and the central bank should risk pumping too much stimulus into economy rather than too little to combat a severe downturn.