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LONDON (Reuters) – Bank of England Governor Andrew Bailey said there is a significant risk of further disappointments to UK economic growth, and that the country faced unprecedented uncertainty as coronavirus cases began to climb again.
FILE PHOTO: Bank of England Governor Andrew Bailey poses for a photograph on the first day of his new role at the Central Bank in London, Britain March 16, 2020. Tolga Akmen/Pool via REUTERS/File Photo
Britain’s economy shrank by 20% in the three months to June, the biggest drop of any large advanced economy, and Bailey reiterated that he expected output at the end of the third quarter was 10% below its level at the end of 2019.
“Ten percent is still a huge gap, let’s be clear