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Market news

30 June 2020

BoE’s chief economist Haldane: Like the rest of the MPC, I stand ready to adjust monetary policy, at speed, if needed

  • Risks to the economy remain considerable, two-sided
  • In my view, risks are slightly more evenly balanced than in May; they remain skewed to the downside
  • In my view, positive news on demand has more than counterbalanced the rise in downside risks to employment
  • Monetary policy can do relatively little to avoid problems caused by structural or sectoral shifts in the economy; With interest rates along yield curve close to zero, there is also simply less room for monetary manoeuvre than in the past
  • It is more important than ever that central banks are not over-burdened and that anchor of price stability is not disturbed

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