| Videos | Channels | Search |
Why the Bank of England needs to back off
Saxo TV speaks to three of the UK’s top economists about their main concerns when it comes to the UK recovery.
George Magnus, Senior Advisor, UBS: “There is a recovery, it will almost certainly last throughout 2014 and it may well last into 2015 but I’m worried about how sustainable it is, bearing in mind that we have stagnant real wages, a lot of income inequality and I’m not sure how sustainable the pick up in business investment is.”
Lee Hopley, Chief Economist, EEF: “There is a lot more that is encouraging, but I don’t think anyone is yet relaxed about the recovery. Exports have been a bit patchy towards the second half of 2013, we need to see a much better trade performance across the economy and there is the remaining question mark over the investment picture as well.”
Michael Petley, Chairman, Global Macro, ECU: “I think the UK recovery is in pretty good shape. My advice to the Chancellor as well as the Bank of England is to do nothing, just let it be. Don’t try and tinker too much and just let the depth of the broader economic recovery take hold.”
01:40 minutes
Tags: bank of england, boe, britain, british economy, british pound, budget day, chancellor george osborne, economy, ecu, eef, exports, gbp, george magnus, george magnus ubs, imports, lee hopley, lee hopley eef, macro, macro economy, michael petley, michael petley ecu, osborne budget, pound, saxo bank, saxo tv, sustainable recovery, the pound, tradingfloor.com, uk, uk budget, uk chancellor, uk economy, uk exports, uk manufacturing, uk recovery, uk trade, uk trade balance, uk trade performance