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20 Jul 2020

BoE's Haldane: UK economy hit floor in mid-April

"We are already three months into recovery in the economic activity," Andy Haldane, the Chief Economist of the Bank of England (BoE), noted on Monday and added that the UK economy had hit the floor around mid-April.

Additional takeaways

"So far so 'V' is still my view for the shape of the UK economic recovery."

"The economy has probably grown on average by 1% a week."

"About half of the slump has probably been clawed back already."

Market reaction

These comments don't seem to be having a significant impact on the GBP's performance against its rivals. As of writing, the GBP/USD pair was up 0.61% on a daily basis at 1.2641.

Jul 20, 2020

BoE's Tenreyro: Lower interest rates unlikely to lead to sharply higher spending

The Bank of England's (BoE) Monetary Policy Committee (MPC) has some policy space available with the precise amount depending in part on prevailing ma
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Jul 20, 2020

US Treasury Sec. Mnuchin: Looking at another $1 trillion in coronavirus relief

The Trump administration will pursue tax credits to incentivize businesses to bring people back to work, US Treasury Secretary Mnuchin said on Monday.
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