BoE says UK economy might shrink by 25% in June quarter
The Bank of England says UK unemployment could more than double to 9% of the workforce
07 May 2020 - 17:57
London — The Bank of England said Britain could be headed for its biggest economic slump in over 300 years due to the coronavirus lockdown and kept the door open on Thursday for more stimulus in June.
In what it called an “illustrative scenario” rather than a standard forecast, the BoE said Britain's economy might be on course to shrink by 25% in the three months to June and unemployment could more than double to 9% of the workforce...
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