BOE’s Haldane: Macro-economic policy response so far has reduced significantly risk of hysteresis

The Bank of England (BOE) Chief Economist Andy Haldane offers his take on the economy and the policy response to the coronavirus crisis, in an interview with The Guardian on Wednesday.

Key quotes

“Changes in behavior, business models as a result of covid means some jobs will not return.”

“Macro-economic policy response so far., large-scale, sure-footed, front-loaded, has reduced significantly the risk of hysteresis.”

“Only way of immunizing against economic long covid will be through skills programme.”