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MNI BRIEF: BOE Bailey: Supply Chain Hits Hampering Rebound

MNI (London)

A mix of Covid and other events, such as the shortage of computer chips, are disrupting supply chains and hampering economic activity, Bank of England Governor Andrew Bailey said Friday.

Speaking at an OECD event Bailey said that advanced economies needed a "spirit of robust openness" to try and prevent the complete break-up of supply chains with damaging effects already showing up in the output data. He cited "the shortage of the (computer) chips which is affecting industrial production, you can see it in the UK numbers this morning, you can see it in other countries' numbers," with the latest UK monthly activity data falling well short of expectations.

MNI London Bureau | +44 203-586-2223 | david.robinson@marketnews.com
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MNI London Bureau | +44 203-586-2223 | david.robinson@marketnews.com
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