- BoE's chief economist Haldane: We might see higher and more sustained rise in UK inflation than expected
Market news
26 February 2021
BoE's chief economist Haldane: We might see higher and more sustained rise in UK inflation than expected
- High degree of two-sided uncertainty on inflation is understandable
- There is tangible risk inflation proves more difficult to tame
- If economies bounce-back as vaccination programme is rolled-out, policy stimulus could over-stimulate the economy and, with it, inflation
- Reasonable chance disinflationary trends could persist and indeed be amplified by the COVID crisis, posing downside inflation risks
- Costs to the economy and BOE getting these judgments wrong could be significant
- Few, if any, historical precedents to help judge the response of the economy to this scale of shock and degree of policy stimulus
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