Bank of England pumps £150bn into economy as governor warns of downturn

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The governor of the Bank of England has told Sky News the economy is facing a “historically unprecedented” hit this year, just hours after announcing another £150bn stimulus package.

Andrew Bailey predicted economic growth would be 10 or 11% lower at the end of this year compared with last year, with a 2% hit due to the second wave of COVID-19.

The Bank is forecasting a negative impact from Brexit, even if a deal is reached.

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1 London

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