July 15, 2020 / 8:19 AM / 22 days ago

BoE's Tenreyro sees "incomplete V" shape for UK recovery

LONDON, July 15 (Reuters) - Bank of England policymaker Silvana Tenreyro said Britain’s economic recovery from the coronavirus lockdown would probably be hindered by consumers remaining wary of the virus, social distancing rules curbing activity and unemployment rising.

“Behavioural responses mean that the UK economic outlook will continue to depend on the global and domestic spread of COVID-19,” Tenreyro said.

“Assuming prevalence gradually falls, my central case forecast is for GDP to follow an interrupted or incomplete ‘V-shaped’ trajectory, with the first quarterly step-up in Q3.” (Reporting by Andy Bruce Writing by William Schomberg)

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