The Bank of England’s (BOE) chief economist Andrew Haldane says that he belongs to the majority Of the bank’s monetary policy committee (MPC) believes that the Uk ”is approaching a point” where a certain reduction in a certain stimulus can be justified.
It said he on Wednesday night, according to Bloomberg News.
”For me, would it be a good news. It would be that the interest rate goes back to normal, even if the new normal is different than the old normal,” said Andrew Haldane.
He noted that a reduction of stimulus would be a sign that the economy is recovering.
”So, rather than to be a source of fear or trepidation, it should be a good news that the economy proves to be sustainable,” said Andrew Haldane.
He also noted that wage growth is showing signs of being ”more encouraging” than in the past.
”I hope that we are nearing the end of the tunnel, both on wages and productivity”, said chefekonomen.
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