BOE’s Bailey: Economic outlook is positive but with large doses of cautionary realism

"The outlook is positive but with large doses of cautionary realism,” the Bank of England (BOE) Governor Andrew Bailey said at a webinar hosted by the Resolution Foundation. His speech is titled ‘The economic outlook.”

Additional quotes

“Covid has been both a demand and supply shock to the economy, and the recovery therefore has to be in both elements.

“Absent a dual recovery, dealing with the issues that arise will be more difficult.”

“Longer-term scarring damage to the economy will be more limited than in some past recessions, but there will most likely be structural change.”

“Important to boost supply capacity to raise the sustainable rate of growth.”

“Important to emphasise the role of the forward guidance that the MPC has adopted, and the announcements made a month ago on so-called toolbox issues.”

more to come ...

About BOE Governor Bailey

Andrew Bailey is the Bank of England's Governor. He took office on March 16th, 2020, at the end of Mark Carney's term. Bailey was serving as the Chief Executive of the Financial Conduct Authority before being designated. This British central banker was also the Deputy Governor of the Bank of England from April 2013 to July 2016 and the Chief Cashier of the Bank of England from January 2004 until April 2011.