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Ben Broadbent, the Bank of England’s deputy governor for monetary policy, told CNBC that tight limits after the introduction of vaccines would likely affect the UK’s economic recovery.
Speaking to CNBC on Friday, Broadbent said the possibility of narrowing external borders but opening it internally once coronavirus vaccines became ubiquitous would weigh on the economy.
“One of the downside risks we’ve flagged is the potential emergence of new variants that are less susceptible to vaccines. We haven’t carefully studied the effects of the different types of restrictions,” he said.
“My instinct would be that if you were to close borders, it would be negative for both the demand and the supply side of the economy.”
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