BoE Governor warns against lifting lockdown too early

Ryan Fowler

April 22, 2020

Andrew Bailey (pictured), the Governor of the Bank of England, has warned against lifting the UK’s COVID-19 restrictions too early.

The Daily Mail reported that the former Financial Conduct Authority (FCA) boss had said the damage to the economy would be magnified if there had to be a second lockdown due to the current one being lifted prematurely.

Bailey told the Daily Mail:  “I think we have to be careful when thinking about human psychology

“If we had a lifting and then [lockdown] came back again, I think that would damage people’s confidence very severely.

“If we have a false start… that would have potentially quite difficult effects I think.”

He also added his take on employees. He said that before the lockdown is lifted, employers must ensure that their staff are not being put at risk in offices or when travelling to work.

Bailey added: “As an employer – and we have this at the Bank of England – you have to be able to answer the questions for your staff: is it safe to come to work?”

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