“There is a risk of detrimental effects on demand due to increased risk aversion,” the policymaker of the Bank of England (BoE) Michael Saunders to the Treasury Select Committee, As reported Reuters.
Additional conclusions
“I am concerned about what the pandemic will leave even after the launch of the vaccine.”
“There has been a large increase in corporate debt, risk of further increase in unemployment.”
“We think these healing effects will weigh on the UK economy for some time to come.”
Market reaction
The pair GBP/USD It showed little to no reaction to these comments and was last seen trading sideways on the day at 1.3282.
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