From NY/Asia crossover: BoE boss Andrew.........>

BOE: From NY/Asia crossover: BoE boss Andrew Bailey warns against easing social

distancing too early and says the psychological effects of a 'false start' that

forces Britons back into lockdown could damage economy more (Daily Mail)

- The governor of the Bank of England today issues a stark warning that Britain

should be cautious about lifting the coronavirus lockdown too early. In his

first interview since taking the top job, Andrew Bailey told the Daily Mail that

a premature end to the restrictions could cause a severe loss of confidence and

inflict further damage on the economy. 'I think we have to be careful when

thinking about human psychology,' he said. 'If we had a lifting and then

[lockdown] came back again, I think that would damage people's confidence very

severely. 'If we have a false start... that would have potentially quite

difficult effects I think.' The new governor's stern intervention comes at a

time of increasingly heated debate over how soon the lockdown can be lifted.

'Hawks' advocating an early easing of restrictions point to the huge costs to

the economy of remaining in a deep freeze.

- Link: https://tinyurl.com/ycscj3qp