BoE's Haldane: Businesses and consumers show flexibility in response to COVID

Consumers and business in the UK have shown "remarkable flexibility" in response to the coronavirus crisis,  Andy Haldane, the Chief Economist of the Bank of England (BoE), said on Wednesday, as reported by Reuters.

"This flexibility gives me some confidence that the UK recovery will persist despite risks on the horizon," Haldane added.

Market reaction

The British pound showed no reaction to these comments. As of writing, the GBP/USD pair, which touched a daily high of 1.3065, was up 0.65% on the day at 1.3018.