It will take more than two years for Britain's economy to recover to its pre-COVID-19 level, a Reuters poll found, but the Bank of England was still expected to keep rates steady until at least 2024 and to avoid negative borrowing costs.
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Nearly £40billion was wiped off the value of British companies yesterday as a sorry cocktail of coronavirus and Brexit worries spooked the financial markets.
On a bleak day for savers with pensions and other investments, the FTSE 100 index fell 1.7 per cent while the pound sank back below $1.34 having traded above $1.36 last week.
The sell-off came as analysts warned that Britain was in the middle of a perfect storm of both Covid-19 and Brexit as a trade deal with the EU remains elusive.
Drop in the ocean: The latest developments have seen optimism over the roll-out of Covid-19 vaccines give way to fears that the crisis is far from over
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