Record spending spree to reignite economy post-pandemic, says BoE

Bank of england

The economy could hit pre-pandemic levels in early 2022 if households start spending the £125bn in pent-up savings once the vaccine is rolled out, according to the Bank of England.

UK households have built up record levels of savings during the pandemic, saving up to five times as much as in any other nine-month period on record, with the economy effectively in hibernation.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.