- BoE's chief economist Haldane: BoE has not remotely reached a view on negative rates yet
Market news
26 May 2020
BoE's chief economist Haldane: BoE has not remotely reached a view on negative rates yet
- UK economy probably shrank by more than 20% in Q2
- Data coming just a shade better than central bank scenario
- Surveys show some stabilisation; modest recovery in spending, business sentiment
- No one is predicting a sharp bounceback
- This is perhaps a V-shaped recovery but a lopsided V akin to a protracted recovery
- Jobs may not return to pre-virus levels until 2023
- BoE is reviewing evidence on negative rates
- Key issues to consider are consequences on financial sector, economic confidence
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