Economics
BOE Governor Isn’t Yet Convinced by Strength of U.K. Recovery
- Says growth trajectory likely determined by people’s behavior
- Comments suggest governor more cautious than other officials
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Bank of England Governor Andrew Bailey played down suggestions that the U.K.’s economic rebound is looking robust, saying it ultimately depends on factors that are difficult to foresee.
The comments suggest he’s more wary about the outlook than Chief Economist Andy Haldane, who was optimistic about a V-shaped bounceback last month. Fellow Monetary Policy Committee member Silvana Tenreyro said this week that the recovery will hit a ceiling later this year.