Free Trial

BoE's Chief Economist Haldane Warns Against Furlough Extension (City A.M)

BOE

The Bank of England's chief economist has warned against extending the government's job retention scheme, saying that such a move would prevent a "necessary process of adjustment" taking place. Amid growing calls from industry groups to keep the furlough scheme in place for certain sectors, Andy Haldane told the City A.M. podcast that the Coronavirus pandemic "has already delivered lasting structural change to the economy which does mean, regrettably, some businesses will probably not make it through and some jobs may well not be coming back."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.