Head of Bank of England: British economy 'in very difficult period'

Bank of England governor Andrew Bailey said that Britain’s economy was facing its “darkest hour”.

Bank of England governor Andrew Bailey said that Britain’s economy was facing its “darkest hour”, and played down suggestions that cutting interest rates below zero would be a straightforward way to boost growth.

He said a resurgence in Covid-19 cases meant there would be a difficult few months ahead —  although recovery was within sight once Covid-19 vaccines were rolled out.