Bank of England forecasts show no v-shaped recovery in UK economy, warn experts

The UK's central bank said that UK GDP is unlikely to reach pre-Covid-19 levels until the end of 2021

The UK's central bank said the immediate impact on the economy is likely to be shallower than it last projected, but the recovery was now expected to be more drawn out.

The UK economy is not set for a v-shaped recovery following the coronavirus pandemic after the Bank of England projected it would take longer-than-expected to bounce back, economists have warned.

This morning, the UK's central bank said the immediate impact on the economy is likely to be shallower than it last projected, but the recovery was now expected to be more drawn out.