|

BOE Haldane: Economy will 'power through' in the months ahead

“Britain's economy will bounce back from Covid-19 like a 'tennis ball', putting the country at the top of the G7 growth league,” Bank of England (BOE) Chief Economist Andy Haldane said during late Wednesday, per the Daily Mail UK.

The outgoing BOE member also predicts that the British economic recovery will be so strong that as many new jobs could be created as lost this year.

It should, however, be noted that the policymaker cited risks, “of a relapse if the virus is not defeated or if people and firms struggle to pay debts ran up during lockdown.”

Additional comments…

UK inflation is likely to be above 2% target by the end of 2021.

In a year from now its realistic to expect UK GDP growth in the double-digits.

FX reaction

Although the news takes clues from the previous day’s upbeat UK data dump, GBP/USD welcomes the upbeat comments while picking the bids to 1.4070, up 0.11% intraday, amid the early Thursday morning in Asia.

Author

Anil Panchal

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

More from Anil Panchal
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD flatlines below 1.1800 ahead of Fed Minutes

EUR/USD struggles to find direction and continues to move sideways below 1.1800 for the second consecutive day on Tuesday as markets remain in holiday mood. Later in the American session, the Federal Reserve will publish the minutes of the December policy meeting.

GBP/USD retreats to 1.3500 area following earlier climb

GBP/USD loses its traction and trades flat on the day near 1.3500 after rising to the 1.3530 area early Tuesday. Trading conditions remain thin ahead of the New Year holiday, limiting the pair's volatility. The Fed will publish December meeting minutes in the late American session.

Gold aims to regain the ground lost

Gold gathers recovery momentum and advances toward $4,400 on Tuesday after losing more than 4% on Monday. Increased margin requirements on gold and silver futures by the Chicago Mercantile Exchange Group, one of the world’s largest trading floors for commodities, prompted widespread profit-taking and portfolio rebalancing.

Tron steadies as Justin Sun invests $18 million in Tron Inc.

Tron (TRX) trades above $0.2800 at press time on Monday, hovering below the 50-day Exponential Moving Average (EMA) at $0.2859.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).