"Andrew Bailey the Bank of England Governor sees a light at the end of the tunnel for the economy as the country begins to emerge from the yearlong effect of the restrictions driven by the Pandemic.

Bailey supports the steps taken by the Chancellor recently but acknowledges that inflation may be a consideration going forward. The initial rise in the rate of inflation may be technical as the collapse of fuel prices a year ago falls off the annual calculation.

Such an event won’t spur any action from the Bank which has, so far nor been as keen to discuss the inflationary effect of stimulus measures as either the Fed or ECB.

The Chancellor continues to face questions over the new measures he has put in place. He commented yesterday that the recovery will be investment driven and consumer led actions such as last year’s eat out to help out scheme will not be necessary.

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