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BoE's chief economist Haldane: BoE is doing work on negative rates, not the same as being ready to deploy that tool

  • There is open question on whether voluntary or involuntary social distancing is holding back spending
  • UK household spending has been "remarkably resilient"
  • Second virus wave in U.S. had little impact on total spending, may have implications for what to expect in UK
  • Possible that COVID-19 could reshape global supply chains and trade patterns
  • Monetary policy can provide more of cushion to the crisis
  • But more of the heavy lifting has to be done by fiscal policy
  • I have nothing new to say on negative rates
  • We are studying negative rates, but doesn't mean that it will be used

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05:30 02.12.2020
Commodities. Daily history for Tuesday, December 1, 2020
Raw materials Closed Change, % Brent 47.18 -1.19
03:30 02.12.2020
Stocks. Daily history for Tuesday, December 1, 2020
Index Change, points Closed Change, % NIKKEI 225 353.92 26787.54
03:30 02.12.2020
Schedule for today, Wednesday, December 2, 2020
Time Country Event Period Previous value Forecast 00:00 (GMT) Australia RBA's Governor Philip Lowe Speaks
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