“Most of us have seen quieter market conditions since the central bank took action”, Bank of England (BoE) Governor Andrew Bailey said Thursday.
Additional things to remember
“Although things have calmed down, there is an underlying fragility in the conditions.”
“Whether the slowdown is 30% or more or less – who knows.”
“We are in a major downturn, no doubt.”
“It is reasonable to expect that the economy will reopen later.”
“We have to be clear, there are obvious ways to get scars in the economy of the recession.”
“There will be scars, I don’t know how many.”
“If we hadn’t released a financial stability report this month, it could have led to questions about financial stability.”
GBP / USD rose slightly after these comments and was last seen at 1.2215, down 0.1% on a daily basis.