Bank of Enland chief economist Andy Haldane speaking in The Times today 14 Aug 2016
- Brexit vote represents a structural shift in UK's economic and trading regime
- Brexit result has thrown up a "dust cloud" of economic uncertainty
- MPC not under any illusions it can fully insulate against long-term effects of vote to leave EU
"This is a structural shift in the UK's economic and trading regime, whereas mon pol can offer no more than a short-term balm for economic uncertainty"
Haldane repeating his bearish stance and not the only central banker calling for govt help. All eyes on the UK fin min's Autumn Statement therefore (usually December) but we have the next BOE MPC decision on 15 Sept.
In July I reported a speech Haldane made on 30 June calling for mon pol measures but only released by the BOE post-Brexit.
Given GBP's late demise on Friday ( albeit amidst general USD demand) it's not unreasonable to suggest that reports of these latest comments were circulating.
BOE's Haldane - Mon pol can only be a short-term remedy
