The UK economy is on track for a V-shaped recovery following the shocks brought on by the Covid-19 pandemic, Bank of England chief economist Andy Haldane said.

“There is a debate about which letter of the alphabet will best describe the path of the economy, with some scepticism about the V-shaped scenario path in the Bank’s May Monetary Policy Report,” said Haldane in a 30 June webinar. “It is early days, but my reading of the evidence is so far, so V.”