Economic week ahead
The most high-profile gathering of the central banking calendar is on next week. Andrew Bailey will “attend” the Jackson Hole symposium, hosted by the Federal Reserve Bank of Kansas City, virtually on Friday. The theme is “Navigating the decade ahead: implications for monetary policy”. Economists are looking for any tips from the Bank of England Governor on quantitative easing or negative interest rates, as well as an update on his assessment of the state of the economy. In many ways the UK has bounced back as predicted by Andy Haldane, the Bank’s chief economist, who said it was “so far, so V”, meaning a rapid return towards pre-pandemic GDP. Haldane is speaking on Wednesday. Business surveys from the CBI and Lloyds will shed more light on progress made by the private sector. Meanwhile, the ONS has numbers on people changing occupations through the first half of this year. On Wednesday it publishes figures on the number of working and workless households through the height of the pandemic, while on Thursday its quarterly migration report will show how many people managed to move country through the lockdown.