LONDON: Bank of England chief economist Andy Haldane said he was hopeful that Britain's economic recovery from the initial impact of coronavirus would persist, despite risks on the horizon, due to the adaptability of businesses and households.

Haldane, speaking online to the Engaging Business Summit, said he had been struck by how readily British households had changed their consumption patterns and work practices following the initial lockdown that began in March.

"Of course there are risks on the horizon that we all know about. But one of my key learnings from this year has really been just how flexible and resilient businesses, and households have been in the face of very considerable adversity. And that gives me confidence for the future," he said.