BOE’s Bailey: The effects on demand to go on for around a year after lockdown

Anil Panchal FXStreet

During the May month Bank of England (BOE) monetary policy report, the Governor Andrew Bailey suggestion mildly positive sentiment, which in turn could help suport the GBP/USD pair's initial run-up.

"Expects the effects on demand to go on for around a year after lockdown."

"Expects there to be some long-term damage to the capacity of the economy."

"But in the illustrative scenario, these effects are judged to be relatively small."

Also Read: BOE: Economic growth to fall sharply in 2H 2020 by 14%

FX implications

GBP/USD remains upbeat around 1.2370 by the press time, just after the comment from BOE's Bailey. Traders will look for press conference, up for publishing at 09:00 GMT for fresh impulse.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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