LONDON (Reuters) – Bank of England Chief Economist Andy Haldane said there was a risk that overly pessimistic, “Chicken Licken” views about the coronavirus crisis would hold back Britain’s recovery from its COVID-19 lockdown economic shock.
“Encouraging news about the present needs not to be drowned out by fears for the future. Now is not the time for the economics of Chicken Licken,” Haldane said in a speech, referring to a fictional bird who was unreasonably concerned about the sky falling in.
Haldane has been the most optimistic voice among the BoE’s interest rate-setters since the lockdown.
In his speech on Wednesday he said none of the conditions that would justify taking rates negative had been met.
(Writing by William Schomberg, editing by David Milliken)
