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.

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