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BoE's Haskel sees long-term economic scarring from COVID

FILE PHOTO: Professor Jonathan Haskel, who has just been appointed to the Monetary Policy Committee of the Bank of England, is seen in this undated portrait released by HM Treasury in London, Britain, May 31, 2018. Jason Alden/UK Treasury/Handout via REUTERS

LONDON (Reuters) - Britain is likely to suffer some long-term economic scarring due to the COVID pandemic, but it is hard to know its scale for now, Bank of England policymaker Jonathan Haskel said on Tuesday.

“Changes in the economy, even if the vaccine comes, will have these long-term scarring effects,” Haskel said at an online conference hosted by Britain’s Imperial College.

Haskel said recent news of coronavirus vaccine developments did offer some light at the end of the tunnel for Britain, which has suffered both a high death toll and heavy economic damage from the pandemic.

Reporting by David Milliken; editing by Stephen Addison

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