LONDON: The Bank of England (BoE) may need to keep interest rates lower for longer than previously thought to reduce the chance of the economy slipping into long-term stagnation, its chief economist Andrew Haldane said yesterday. Haldane said he was now more downbeat on the outlook for Britains economy due to weaker global growth, greater financial and political risks and the danger that wages and productivity may continue to fail to recover as forecast. œPut in rather plainer English, I am gloomier, said Haldane. Reuters
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