© Reuters. FILE PHOTO: Bank of England Governor Andrew Bailey speaks at the Financial and Professional Services Address, previously known as the Bankers dinner, at Mansion House in London, Britain July 1, 2021. Stefan Rousseau/Pool via REUTERS/File Photo
LONDON (Reuters) – Bank of England Governor Andrew Bailey said a key challenge facing Britain’s economy was to get people back into work as the coronavirus pandemic fades.
“The challenge of avoiding a steep rise in unemployment has been replaced by that of ensuring a flow of labour into jobs. I want to emphasise that this is a crucial challenge,” Bailey told a news conference after the BoE’s latest policy announcements and economic forecasts.
The BoE did not expect to see a spike in unemployment when finance minister Rishi Sunak’s job-protecting furlough scheme is phased out at the end of September, Bailey said.
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