BoE's Haldane sees rapid economic recovery from COVID hit

LONDON: Bank of England chief economist Andy Haldane said on Tuesday that he continued to expect a rapid economic recovery once vaccines against COVID are rolled out, keeping a lid on unemployment.

Haldane said that he expected recovery to be faster than after the 2008-9 financial crisis, as the economic collapse in 2020, had done less damage to business and household balance sheets with less overhang of bad debt than in the financial crisis.