Andy was born on 18 August 1967. He is the chief economist at the Bank of England. Andy is responsible for developing the Bank’s policy on financial stability issues and the management of the Financial Stability Area. He is a member of the newly established Interim Financial Policy Committee, as well as several senior management committees of the Bank. He is also a member of the Basel Committee. Andy joined the Bank in 1989. In previous roles, he directed the Bank’s work in risk assessment, market infrastructure, and international finance. Before that, he worked on various topics related to monetary policy strategy, inflation targeting, and central bank independence. Andy graduated from the University of Sheffield in 1988 with a degree in economics. He then completed a master’s degree in economics at the University of Warwick. Andy has written extensively on national and international monetary and financial stability, writing over 100 articles and three books.
He is 52 years old.
Haldane attended Guiseley School in North Leeds. He received a bachelor’s degree in economics from the University of Sheffield in 1988 and a master’s degree in economics from the University of Warwick in 1989.
Haldane joined the Bank of England in 1989. He worked on monetary analysis, on various topics related to monetary policy strategy, inflation targeting, and central bank independence. He had a secondment commission to work at the International Monetary Fund. Haldane’s senior experience at the Bank of England includes managing the International Finance Division and the Market Infrastructure Division. In 2005 Haldane assumed responsibility for the Systemic Risk Assessment Division within the Financial Stability department. In 2009 he became the Executive Director of Financial Stability for the Bank of England. Haldane has been widely cited as a leading Bank of England financial stability expert and is a co-author with Adair Turner and others of the LSE Future of Finance report. His 2012 speech, called “The Dog and the Frisbee” – delivered to the Kansas City Federal Reserve Bank’s annual meeting in Jackson Hole, Wyoming – received widespread attention in the financial media and caused Forbes to describe him as a “rising star central banker”.In the speech, Haldane turned to behavioral economics to argue that complex financial systems cannot be controlled with complex regulations. In October 2012, Haldane said protesters from the Occupy movement had been right to criticize the financial sector and had persuaded bankers and politicians “to behave in a more moral manner.”
Interviewed on the BBC radio program The World at One, prior to the 2012 Chancellor’s Autumn Statement, Haldane said the financial effect of the banking crisis – that is, loss of revenue and damage to production – was as serious as a world war. He feared that the cost would fall on the next generation or even on the next generation. Public anger was justified because banks had made loans that could never be repaid, and these loans were sold worldwide creating the subprime mortgage crisis. Banks still had risky undeclared assets. Meanwhile, the salary of the bankers, which in 1980 was comparable to that of a doctor or lawyer, had increased in 2006 to four times that value and Haldane said that it should fall to that of other professions. Haldane said in a speech on April 4, 2014 to a financial audience that the risks “too great to fail” that are being addressed by the reforms at major banks were applicable to the asset management industry, calling it the “next frontier “for macroprudential policy. He introduced the “global systemically important non-bank, non-insurance financial institutions” (NBNI G-SIFI) in the lexicon at this event, and detailed the regulatory push as “modulating the price of risk, when this is materially undervalued, it could be as important as controlling its quantity. ” Haldane said in March 2017 that “bad managers are accused of slowing economic growth in the UK by undermining productivity, preventing rising wages and living standards.” Haldane said in 2017 that the increase in self-employment and the decrease in union membership reflect the weak labor forces of the pre-1750 era. He also said that a period of “divide and conquer” had left workers less able to negotiate higher wages. “There is power in numbers. A workforce that divides more easily than in the past can be more easily conquered.”
Honours & Awards
In 2016, Haldane was elected a Fellow of the Academy of Social Sciences (FAcSS). In 2019, he was awarded an honorary doctorate from the University of Warwick.
Wife & Children
His wife name is Emma Hardaker-Jones and they has three children.