Bank and George Osborne

Bank: His view that the Bank may need to resort to even more unconventional moves to protect the UK recovery puts Haldane at odds with the Bank governor, Mark Carney, who has indicated that rates may rise from 0.5% early next year, according to The Guardian. The suggestion that rates should stay low for longer will be welcomed by homeowners with tracker mortgages but is a blow to savers who have been hoping to finally see higher returns on their money. Andy Haldane cited evidence of a slowdown on the domestic front and risks to the global economy from China, where an economic downturn has coincided with a stock market rout that has sent shockwaves through the world markets. The warning from a top Bank official over the UK fragility is also unwelcome news for George Osborne as he seeks to emphasise his stewardship of the economy following Jeremy Corbyn election as Labour leader. The US rate-setters blamed a more fragile global outlook in remarks that further rattled jittery financial markets. Related:Shareholders receive too much money from business – Bank chief economist Haldane, one of nine policymakers who set interest rates, was speaking a day after the US central bank decided to delay an interest rate hike for the world biggest economy. (news.financializer.com). As reported in the news.