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- BoE's chief economist Haldane: A successful COVID vaccine would be a game-changer
BoE's chief economist Haldane: A successful COVID vaccine would be a game-changer
- BoE aims to keep borrowing costs at rock-bottom levels for as long as necessary to get economy moving
- Financial markets point to a lengthy period of very low interest rates but things can change
- A credible vaccine announcement would significantly boost public and business confidence
- It is not very unusual for UK debt to be over 100% of GDP in the 19th and the 20th century, servicing costs are now much lower
- Growth, rather than paying down debt has been the most successful way of reducing UK debt-to-GDP ratio
- If tax rises are needed, pollution taxes should be considered
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