UK on course for a V-shaped recovery, says Bank of England
by Kalyeena Makortoff and Richard Partington from on (#556VF)
Economic activity has picked up but unemployment could prove a major concern, says Bank's chief economist
The Bank of England's chief economist has said Britain's economy is recovering faster than previously thought from the Covid-19 crisis, while warning that faster growth could lead to higher inflation.
Issuing an upbeat assessment as lockdown controls are gradually relaxed across most of the UK, Andy Haldane said there were signs of a V-shaped economic recovery - whereby growth rapidly snaps back from a steep downturn in activity. However, he warned that a surge in unemployment could quickly nudge the country off course.
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