– Haldane shares his views on the truth about financial repression, house prices and much more
– Far reaching chat with the sole dissenting member of the Monetary Policy Committee doesn’t hold back
Andy Haldane, the outgoing Chief Economist at the Bank of England joined Merryn Somerset Webb for this week’s MoneyWeek podcast, offering his views on everything from house prices to the truth about financial repression.
The MoneyWeek podcast is hosted by MoneyWeek’s editor-in-chief Merryn Somerset Webb. Andy Haldane joined Merryn for this special edition of the podcast, which was recorded shortly before his final meeting as a member of the Bank of England’s Monetary Policy Committee.
Merryn asked Haldane his thoughts on everything from the UK’s inflation prospects, to house prices, to progress on the digital pound, to the truth about financial repression and central bankers.
On cryptocurrencies Haldane shared his frank view stating, “The notion that bitcoin could ever play the role of a payments medium is totally fanciful and should fill us with horror.” When asked about house prices he commented “We’ve got house prices rising at double-digit [rates] – that’s punchy”.
When asked about inflation and the impact of future interest rate rises Haldane stated: “Probably the majority of people with mortgages these days haven’t really experienced a rate rise… and that may mean that the impact… is a bit more than might otherwise be the case”;
On financial repression: “I can say hand on heart, I’ve never been to a Bank of England discussion about the case for financial repression and inflating away debt”;
Haldane also explains the central bank’s rationale for creating a digital version of the pound as well as commenting on the features of a digital currency (“It could even pay interest”); gives Merryn his view on the outlook for the UK economy for the rest of the year; and much more.
You can hear all of this and much more on this week’s episode of the much-loved podcast, out now at the provider of your choice, or at moneyweek.com/podcasts.