- BoE's MPC member Vlieghe: I am fairly confident that, in the months ahead, the economy will bounce back
Market news
2 September 2020
BoE's MPC member Vlieghe: I am fairly confident that, in the months ahead, the economy will bounce back
- There is a material risk in my view that it could take several years for the economy to return to full capacity
- I take little comfort from the fact that the unemployment rate has remained fairly stable so far
- I am fairly confident that, in the months ahead, the economy will bounce back but still leaving GDP 5% or more below its pre-pandemic level
- An economy with lots of job losses is one that will need more stimulus from monetary and fiscal authorities
- BoE forecast for output gap closing is quite quick
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