Market news
02.09.2020, 13:57

BoE's MPC member Vlieghe: I am fairly confident that, in the months ahead, the economy will bounce back

  • There is a material risk in my view that it could take several years for the economy to return to full capacity
  • I take little comfort from the fact that the unemployment rate has remained fairly stable so far
  • I am fairly confident that, in the months ahead, the economy will bounce back but still leaving GDP 5% or more below its pre-pandemic level
  • An economy with lots of job losses is one that will need more stimulus from monetary and fiscal authorities
  • BoE forecast for output gap closing is quite quick

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