Bank of England chief economist Haldane suggests that UK economic output likely fell 25% over 3 month period.
Haldane also predicts continuous bouts of coronavirus peaks.
Further waves of the novel coronavirus are surely on the way and they will be one of the determinants of Britain's economic outlook, Bank of England Chief Economist Andy Haldane said on Tuesday.
"How big will be the second and third and fourth wave peaks? They surely will come," Haldane said in an online talk for Buckingham University.
"What's to play for is how large those peaks will be."
- Says the direction of travel has been upwards, that upwards path has come sooner and faster than any mainstream forecaster expected.
- Says UK economic output likely fell 25% over 3 month period.
- Says further peaks in coronavirus will surely come, question for economy is how big they will be.
- Says by end of this year, BoE asset purchases could be around 750 bln.
- Says we've seen a hefty bounce-back in household spending.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.