UK economy to be hit by second and third waves of coronavirus, says Bank of England chief

[dufus]

Andy Haldane has warned about further coronavirus waves ( Bank of England )

 

Bank of England chief economist Andy Haldane has warned the economy will be hit by second, third and fourth waves of coronavirus.

 

He added that the waves will affect how the UK economy performs in the future.

 

In an online talk with Anthony Seldon at Buckingham University yesterday evening he said: "How big will be the second and third and fourth wave peaks? They surely will come.

 

“What’s to play for is how large those peaks will be.”

 

Nevertheless Haldane remained upbeat about the UK's economic prospects.

 

He said the economy has received a boost since restaurants and bars opened on Saturday.

 

“Since ‘Super Saturday’, we’ve seen something of a pick up too of people spending in restaurants and bars,” he added.

 

“That leaves the level of activity still materially below its pre-COVID levels. But nonetheless, the direction of travel has been upwards.”

 

The upbeat comments come a week after he described the shape of the UK's economic recovery from the coronavirus lockdown as “so far, so V”.

source