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Banks

BOE's Haldane predicts possible double-digit annual growth rate in UK a year ahead: Daily Mail

FILE PHOTO: The Chief Economist of the Bank of England, Andy Haldane, listens from the audience at an event at the Bank of England in the City of London, London, Britain April 27, 2018. REUTERS/Toby Melville

(Reuters) - Britain’s annual economic growth rate could be in double digits a year from now, the Bank of England’s chief economist Andy Haldane wrote in a Daily Mail column published online late on Thursday.

Economic recovery should be "one to remember, after a year to forget," Haldane wrote here.

The central banker predicted that British households would have amassed “accidental savings” of up to a massive 250 billion pounds ($345.30 billion) and that there would be a spending boom once COVID-19 restrictions are lifted in the country.

($1 = 0.7240 pounds)

Reporting by Derek Francis in Bengaluru; Editing by Chris Reese

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