BOE Chief Economist Haldane: Recent economic data favors a later BOE rate hike
- Gloomier on economic outlook than 3 months ago due to slower global growth and greater political and financial risks
- Rates could stay lower longer without CPI risk
- Growth is well balance between consumption and investment
- There are some signs of labor shortages but wage data remains very weak especially for the middle and low income earners
- Due to uncertainty, best policy course may be to avoid risk of secular stagnation