July 29, 2020 / 9:39 AM / 14 days ago

BoE's Haldane sees mixed signals from regional visit

FILE PHOTO: The Chief Economist of the Bank of England, Andy Haldane, listens from the audience at an event at the Bank of England in the City of London, London, Britain April 27, 2018. REUTERS/Toby Melville

LONDON (Reuters) - Bank of England chief economist Andy Haldane said he saw mixed signals about the economy after a series of online meetings with businesses and community groups in northeast England.

Haldane, who voted against expanding BoE stimulus last month, said estate agents had seen a rapid rebound in activity since reopening in May, probably reflecting pent-up demand.

“While the outlook is inevitably uncertain, given the possibility of further job losses, most felt relatively upbeat about the outlook. So far, then, so good,” he wrote in an article for regional business publication North East Times Magazine.

Community groups offered a gloomier assessment, however.

“People previously ‘just about managing’ have suddenly found themselves struggling, increasingly reliant on food banks,” Haldane said.

Reporting by David Milliken, editing by Andy Bruce

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