The country's central bank is ready to revive Britain's economy
Andrew Bailey, the country's central bank governor, said Britain was ready to take all possible steps to help the economy recover from the crisis of the novel Coronavirus (CVID-19). He made the remarks after the country's economy recorded a record contraction in April.
Andrew Bailey, the governor of the Bank of England, said the figures were "very consistent" with what was expected due to the lockdown. Now the various indicators and components of the economy are beginning to return to life. So we have all kinds of preparations to save the fragile economy.
The big question during the lockdown was to analyze how long-term damage this epidemic could cause. Earlier on Friday, the country's The Office for National Statistics released its updated report.
In April, the country's economy contracted by 20.4 percent. Therefore, according to those concerned, this is probably the highest stage of contraction in the UK economy before the subsequent slow and long recovery of Covid-19.