Four Million Britons Stuck on Furlough to Keep BOE on Edge
(Bloomberg) -- Bloomberg Economics estimates 4 million U.K. jobs were still supported by the government’s furlough program at the start of August, and with the scheme due to end in October a wave of job losses in the fall remains a huge risk. A sharper rise in unemployment is a big reason why BE expects the recovery to slow more markedly in the fourth quarter than the Bank of England believes it will. It’s also why BE expects the central bank to ease again and says it is likely to increase its asset purchase target by 100 billion pounds ($130 billion) in November.
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