According to Bank of England forecasts, Britain's economy is seen growing by 7.25% in 2021, before slowing in 2022 to return to its slow, pre-pandemic pace. Meanwhile, Governor Andrew Bailey said earlier this week that he does not see inflation causing a serious problem in the medium to long-term. For the month, the currency headed for a 2.6% monthly gain against the USD, on the prospect of a strong economic recovery helped by the ongoing re-opening efforts and the rapid pace of COVID vaccination.