BoE Chief Economist Andy Haldane said a “big chunk, if not all” of uncertainty regarding domestic politics and Brexit had dissipated since the end of 2019. “Some early stage signs in surveys suggest there could be a stirring in the undergrowth when it comes to company investment plans”. Nevertheless, it’s “too early to declare victory,”
Haldane added that the global economy has grown stronger since the financial crisis more than a decade ago. BoE’s balance sheets are in better shape are in better shape too. He doesn’t see the buildup of new asset bubbles. Nor does he see a “wholesale retrenchment” of globalization even with US China trade war.
