3/26, 1:46 PM (Source: TeleTrader)
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UK outlook better than projected - BoE's Saunders

Bank of England policymaker Michael Saunders said in a speech on Friday that currently the UK's economic outlook looks better than estimated in February, in part due to expectations that the country will emerge from lockdown earlier than initially thought.

"Data so far suggest that Q1 GDP will be less weak than expected in the February monetary policy report (MPR), and the outlook for activity in Q2 also is probably better than in the MPR central forecast. This partly reflects the effects of higher government output," Saunders stated during a webinar.

Additionally, he said that an unemployment rate "well above 5%" would help stave off inflationary pressures while allowing the economy to grow.

Breaking the News / JC