MNI BRIEF: China Macro Policy To Strengthen Investment Focus

MNI: PBOC Drains Net CNY7 Bln Via OMO Weds; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.0930 Weds; -3.82% Y/Y

CHINA PBOC INJECTS CNY3 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.0930 WEDS VS 7.0963

MNI BRIEF: Brazil Inflation A Sliver Higher Than Consensus

Not much to move the dial in UK activity data

Activity data broadly in line

MNI: UK JAN IND PROD -0.2% M/M, +0.5% Y/Y

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BRIEF: UK Job Losses Higher Than ONS Headline: BOE Haldane

(MNI) LONDON
LONDON (MNI)

Looking at administrative data, tax returns and other figures, a best guess is that about a million people have lost their jobs as a result of the Covid-19 crisis, an estimate well above the headline figures from the Office for National Statistics, Bank of England Chief Economist Andy Haldane said Tuesday.

The key for unemployment going forward was how far the economic recovery gets before the Treasury ends its job support schemes, which are currently scheduled to wind up in April, Haldane told a seminar at Oxford University. If GDP was within five percentage points of the pre-crisis level when the job schemes are terminated Haldane said that he anticipated no further job losses at that point.

Asked if the UK debt stock rising to over 100% of GDP posed a financial stability risk, Haldane said that because of record low interest rates the cost of servicing the national debt was now lower than it was 12 months ago and that that suggested that the UK was "not facing any impending fiscal problem."

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Bank of EnglandCentral Bank NewsPolicy NewsHomepageCEEMEABriefUKStoryRegion
True
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Bank of EnglandCentral Bank NewsPolicy NewsHomepageCEEMEABriefUKStoryRegion
True

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.