BoE’s Haldane sees UK economy ‘writhing in both agony and ecstasy’
On balance chief economist sees outlook being 'gloomier'
The UK economy is in the peculiar situation of "writhing in both agony and ecstasy", according to Andrew Haldane, the Bank of England's chief economist.
Haldane's ‘agony' came from an index that combines real interest rates, productivity growth and real wages. Speaking to the Kenilworth Chamber of Trade Business today, he said the index had been at "painfully" low levels – averaging about five percentage points below its 1970–2014 average in the years since the 2008 financial crisis.
Haldane did
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