BoE and ECB on different paths, UK GDP preparing for the ascent

The worst of the effects from both COVID-19 and Brexit are now probably behind the economy and, as long as there is not another surge in virus cases, GDP should quickly climb over the next few months and reach the summit of its pre-pandemic level in early 2022. That’s why we think the Bank of England will diverge from the European Central Bank and suggest it has no plans to speed up its pace of asset purchases.