Interview with the Bank of England's Governor Andrew Bailey on the impact of the Covid-19 pandemic

The transcript features a discussion with Andrew Bailey, the Governor of the Bank of England, about the economic outlook and the temporary expansion of the bank's balance sheet. Bailey reflects on his unpredictable first months in office, the challenges faced, and the bank's effective performance despite unprecedented conditions. He also mentions a projection of the lowest GDP since 1706, highlighting the bank's adaptability and commitment to addressing emerging issues.

What unexpected challenges has the governor faced during their term?

What is the significance of the projection of the lowest GDP since 1706 mentioned by the governor?