- Analytics
- News and Tools
- Market News
- Bank of England's Haldane sees lasting scars from COVID-19 crisis
Bank of England's Haldane sees lasting scars from COVID-19 crisis
Reuters reports that Bank of England Chief Economist Andy Haldane said that the coronavirus crisis will leave lasting scars in the form of higher debt and unemployment, missed education and mental health problems, especially for people on the lowest incomes.
"The vaccine announcements of the past few weeks offer hope at the end of the tunnel," Haldane said.
"Nonetheless, even with a vaccine, it's clear this crisis will lead to some lasting scars, particularly on the poorest and the most disadvantaged."
Haldane said about two-thirds of the loss had been recouped so far, and hoped the recovery would prove sharper than after previous recessions, reflecting the speed of the collapse and the recent progress on vaccines.
"I think it's now reasonable and realistic to speak of next year as turning a leaf for us economically," he said.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
