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Andy Haldane, the Chief Economist of the Bank of England (BoE), said on Tuesday that he remains open-minded on whether more support is needed for the economy.

Additional takeaways

“Sympathising with BoE Governor Andrew Bailey’s view the rise in the BoE’s balance sheet should not be indefinite.”

“The Monetary Policy Committee (MPC) has yet to discuss Bailey’s view that boe could sell QE gilts before it raises interest rates significantly.”

Market reaction

The GBP/USD pair edged lower in the last hour and was last seen trading at 1.2266, losing 0.25% on a daily basis.