Economics
U.K. Risks Jobless Recovery From Covid Crisis, BOE Official Says
- Saunders says longer pandemic is weighing on company finances
- Comments indicate divisions on MPC about strength of economy
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The U.K. economy risks a jobless recovery from the coronavirus, with surging gross domestic product and lingering unemployment, a policy maker at the Bank of England said.
Michael Saunders, a member of the central bank’s Monetary Policy Committee, said the pandemic has gone on longer than anticipated and is hurting the finances of businesses and households.