"The Bank of England is not preparing to provide any further support when the Chancellor brings the Government’s furlough arrangement to an end in September.

Governor Andrew Bailey believes that the pace at which the economy is emerging from the Pandemic will be sufficient to ensure that the number of business bankruptcies will be controllable.

Following comments made by departing Chief Economist Andrew Haldane last week it is fairly clear that he is not in agreement with how the Bank Intends to manage monetary policy going forward, perhaps more pertinently he has a different idea of what is to come as the economy opens up completely.

Haldane has been the most bullish of the members of the MPC during his tenure. He was the first to predict a V-shaped recovery although at the time this had nothing to do with the rollout of a vaccination.

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