Rolling coverage of the latest economic and financial news, as Andy Haldane urges central bank to consider interest-rate cuts
The Bank of England risks making the UK’s recession worse unless it cuts interest rates soon, the central bank’s chief economist has warned.
Andy Haldane, who left the Bank in 2021 after a 32-year stint, says his former colleagues should consider loosening policy to support the economy.
“I think that’s where the balance of risks lies, yes.”
“For me the case for putting in place some upfront, early insurance on the monetary policy side is strong and strengthening, and I’m fearful we leave that insurance a little too late in the year.”
Continue reading…Rolling coverage of the latest economic and financial news, as Andy Haldane urges central bank to consider interest-rate cutsThe Bank of England risks making the UK’s recession worse unless it cuts interest rates soon, the central bank’s chief economist has warned.Andy Haldane, who left the Bank in 2021 after a 32-year stint, says his former colleagues should consider loosening policy to support the economy.“I think that’s where the balance of risks lies, yes.”“For me the case for putting in place some upfront, early insurance on the monetary policy side is strong and strengthening, and I’m fearful we leave that insurance a little too late in the year.” Continue reading…
