BoE's Haldane: Risks of low rates are worth taking to keep businesses afloat

"Risks of low rates are worth taking to keep businesses afloat and workers in jobs," Andy Haldane, the Chief Economist of the Bank of England (BoE), said on Monday.

"As we recover from the crisis, we need to watch very carefully to ensure low rates don't encourage excessive risk-taking," Haldane further added. When asked about nominal GDP targeting, "I do not think it's the right time to change anchor for monetary policy," he said.

Market reaction

The GBP/USD pair largely ignored these comments and was last seen gaining 0.72% on a daily basis at 1.2655.