BoE's Bailey: Level of economic growth is still weak

Bank of England Governor Andrew Bailey said the level of economic growth was still weak, despite the central bank revising up its forecast for the year. The BoE forecast the economy would grow 0.25% this year - compared with its February prediction of a 0.5% contraction. "Yes, it's a very big upward revision, but the level of growth is ...

Bank of England Governor Andrew Bailey said the level of economic growth was still weak, despite the central bank revising up its forecast for the year.

The BoE forecast the economy would grow 0.25% this year - compared with its February prediction of a 0.5% contraction.

"Yes, it's a very big upward revision, but the level of growth is ... still weak. Let's be honest," Bailey said at a press conference on Thursday.