BoE chief economist admits risk of weaker growth going forward exists

In remarks to the BBC’s economics editor, Robert Peston, Bank of England chief economist Andy Haldane admitted the risk exists that long-term growth in the UK, and other developed economies, will be "soggier than it has been in the past".

The interview will be broadcast at 22:00 on BBC1.

Haldane was responding to a query regarding how seriously he takes the risk of what Larry Summers, the former US Treasury Secretary, calls "secular stagnation".