Comments by BOE chief economist, Andy Haldane
- Economic prospects for Q4 are very uncertain
- Economic activity very likely to be below levels at the start of the year
- Economic prospects next year are perhaps materially brighter than a few weeks ago
- The potential macro-economic benefits of easing the zero lower bound constraint appears to be significant
- However, the costs require thorough exploration
- Full speech
He provided a caveat by saying that whatever he mentioned on easing the zero lower bound i.e. negative rates, are just part of a discussion and carries no implications for short-term policy decision making. But at least it's good to know where he stands.
