Interview with Andrew Bailey, Governor of the Bank of England, on Q.E.

The transcript discusses the economic impact of COVID-19, highlighting the unprecedented downturn compared to historical data. It addresses the challenges in forecasting due to the unpredictable nature of the pandemic and outlines the Bank of England's assumptions for future economic conditions. The discussion includes the potential effects of a second wave and the measures taken to mitigate its impact.

What was the economic state of the fourth quarter of 2020 compared to pre-COVID levels?

• It was above pre-COVID levels.

• It was around 9% below pre-COVID levels.

• It was 20% below pre-COVID levels.

• It was at the same level as pre-COVID.

How unprecedented was the economic impact of COVID-19 according to the transcript?

• It was similar to the economic impact of the 2008 crisis.

• It was a minor impact compared to previous years.

• It was unprecedented in modern times.

• It was a common occurrence in the last 300 years.

What is the main challenge in forecasting the economic recovery from COVID-19?

• The slow pace of economic recovery.

• The unpredictability of COVID-19's evolution.

• The lack of historical data.

• The rapid economic growth.

What assumption did the Bank of England make regarding COVID-19 measures?

• The measures would reduce the incidence of the virus.

• The measures would completely eradicate the virus.

• The measures would have no impact.

• The measures would increase the spread of the virus.

What factor did Chris Whitty mention that could influence the spread of COVID-19?

• Economic policies.

• Political decisions.

• Technological advancements.

• Seasonal and climatic conditions.