BOE’s Haldane: Macro-economic policy response so far has reduced significantly risk of hysteresis

Dhwani Mehta FXStreet

The Bank of England (BOE) Chief Economist Andy Haldane offers his take on the economy and the policy response to the coronavirus crisis, in an interview with The Guardian on Wednesday.

Key quotes

“Changes in behavior, business models as a result of covid means some jobs will not return.”

“Macro-economic policy response so far., large-scale, sure-footed, front-loaded, has reduced significantly the risk of hysteresis.”

“Only way of immunizing against economic long covid will be through skills programme.”

GBP/USD rises towards 1.3750

In a delayed reaction to the upbeat UK Q4 GDP numbers, the GBP/USD pair is trimming losses to head towards 1.3750.

The spot now trades at 1.3738, modestly flat on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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