April 23, 2020 / 10:32 AM / a month ago

UK economic recovery from COVID-19 risks being slow: Vlieghe

LONDON (Reuters) - The recovery of Britain’s economy from the coronavirus crisis is not likely to be swift and its shape could look more like a U than a quick bounce-back V, Bank of England interest rate-setter Jan Vlieghe said on Thursday.

The government and the central bank were taking measures to try to reduce long-term scarring in the economy, he said.

“But of course all the risks are that it will take longer and that it will look a little bit more like a U and than a V,” he said in response to a question after delivering an online speech.

Writing by William Schomberg; editing by Guy Faulconbridge

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