Central banks do not have tools to change productivity growth – Haldane
BoE chief economist says governments are responsible for productivity
While central banks should have an interest in supporting productivity growth, the chief economist at the Bank of England does not think it should be an explicit part of their mandate.
Speaking on June 29, Andy Haldane said price and financial stability – both major parts of the BoE’s mandate – were “necessary” for providing conditions that would support rising productivity.
However, when it comes to the “structural features” of the economy, Haldane does not think central banks have the tools
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