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3/24, 11:19 PM (Source: TeleTrader)
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BoE's Haldane: Economy to bounce back quickly

Bank of England (BoE) Chief Economist Andy Haldane predicted on Wednesday that the economic recovery from the crisis caused by the coronavirus will "come quickly."

In an interview with ITV, he asserted that people's willingness "to get out and spend" is going to be a factor that could facilitate the bounce-back and make it come about faster. He estimated that the country's excess savings currently amount to approximately £150 billion.

Haldane came out with optimistic forecasts in February as well, when he claimed that UK's annual growth could be in "double-digits" in the following year.

Breaking the News / BU