Remarks by BOE governor, Andrew Bailey, in a webinar
- But there is still underlying fragility in market conditions
- We are in a major downturn, there is no question about that
- The downturn could be 30%, more or less, nobody knows
- It is reasonable to think there will be a reopening of the economy later
- It is clear that risks are to the downside
- There is a huge amount of uncertainty about economic scarring
Bailey is not really saying a lot with the above commentary so far. He's not really touching on anything BOE-specific either. But I would say that he already gave the market a clear message with his remarks from yesterday, so nothing more needs to be said.
