Bank of England chief hints at interest rates cut and says UK recession is ‘very weak’
by Zoe Grunewald
Feb 20, 2024
2 minutes
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The boss of the Bank of England has said Britain’s “very small” recession may already be over in a boost for beleaguered Rishi Sunak.
Andrew Bailey told MPs that officials at the central bank think the economy “is already showing distinct signs of an upturn”.
And, , Mr Bailey said it was the weakest downturn since the 1970s “by a long way”.
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