"Bank of England Governor Andrew Bailey showed to be optimistic about the recovery of the UK economy if cautiously so, in an interview yesterday.

While he retains concerns over certain aspects of the recovery, employment in particular, he believes that the recovery from the recession, putting aside the Pandemic which he feels is a once in a century event, will be stronger since it is a recession like no other.

In particular, household finances are stronger than in a regular recession. Unemployment is likely to remain a major issue but, again, it won’t be as much of a burden as in previous recessions.

He still suffers from a dilemma which is either a cyclical phenomenon in which the economy simply runs out of steam and needs a correction, or will it always be in reaction to a global event, such as the current pandemic or the downturn which followed the global financial crisis.

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