Top Bank of England economist warns of 1970s-style price inflation

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Andy Haldane says UK economy resembles bouncing tennis ball but rising prices and wages could easily turn boom to bust

Britain’s economy will “power through in the months ahead”, according to a senior Bank of England policymaker, “moving swiftly from bounce-back to boom”.

Resembling a bouncing tennis ball, the recovery will outpace the US and the rest of the G7 this year, said Andy Haldane, the central bank’s outgoing chief economist.

Related: Markets fall again as inflation worries rattle investors – business live

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