Economics
BOE’s Chief Economist Says ‘Rip Roaring’ Recovery Is Possible
- Andy Haldane says he is sticking with optimistic view for U.K.
- Comments follow data showing business activity accelerating
Photographer: Hollie Adams/Bloomberg
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The U.K. economy could see a “rip roaring” recovery even if consumers spend just a bit of the additional savings they accumulated during the Covid crisis, according to Bank of England Chief Economist Andy Haldane.
Doubling down on his optimistic outlook for an economic resurgence, Haldane told ITV’s Robert Peston show that he expects a sharp bounce back as restrictions on the economy are removed. He said about 150 billion pounds ($205 billion) has been saved over the past year, mostly by higher income households.