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Bank of England's Chief Economist: Shallow Recession Not Concerning
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Bank of England's Chief Economist, Andrew Bailey, believes that it would not be significant if the UK enters a shallow recession. He expects two consecutive negative quarters, which would be considered shallow. Economists estimate the economy shrank 0.1% in the latest quarter.
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How might a shallow recession affect different sectors of the economy?
What factors are contributing to the potential recession in the UK?
What measures can the Bank of England take to mitigate the impact of the recession?
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