The Covid-19 crisis provides some leeway for policy support to absorb the negative impact from Brexit, but we expect UK GDP to remain -2% below pre-crisis levels at end-2022.
The Covid-19 vaccine will supercharge global growth in 2021, but short-term headwinds, and a complete recovery only by 2022, will create transition risks.
As 2020 draws to a close and we release our updated forecasts, our economists were caught day dreaming of a world where their boldest wishes would come true.
