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Lockdown leading to 'very difficult period' for UK economy, warns Bank governor

The UK economy is facing its “darkest hour” due the latest Covid-19 lockdown, which is likely to delay the recovery, the Bank of England governor has warned. In comments on Tuesday that echoed warnings from the chancellor, Rishi Sunak a day earlier that the economy “is going to get worse before it gets better”, Bailey said the UK would bounce back, but only after the lockdown had ended and concerns about the spread of the virus had receded. Referencing Winston Churchill’s use of the phrase in 1940 following the evacuation of Dunkirk, he said: “There’s an old saying about the darkest hour is the one before dawn.”

The Guardian - January 12, 2021

View the full story here: https://www.theguardian.com/business/2021/jan/12/lockdown-leading-to-very-difficult-period-for-uk-economy-warns-bank-governor