If global real interest rates are persistently lower, central banks may then need to think imaginatively about how to deal on a more durable basis with the technological constraint imposed by the zero lower bound on interest rates, that may require a rethink, a fairly fundamental one, of a number of current central bank practices.

Andy Haldane

Categorized in : Business

Official statistics tend to be lagging and tend to be revised. And what the scraping of the web can do is give us a better today read on what’s going on, it can give us a more timely understanding of whether the fortunes of the economy are turning up or turning down.

tech

If we get that recovery that I expect to start coming on stream, probably at a rate of knots from the second quarter, that will hopefully...improve the prospects of re-employment.