Bank of England: 'People are seeking safety at any price' The BBC's economics editor Robert Peston has been speaking to the Bank of England's chief economist Andy Haldane about how seriously he takes the risk of what Larry Summers, the former US Treasury Secretary, calls "secular stagnation." He said that there is a risk that long-term growth in the UK, and other developed economies, will be "soggier than it has been in the past."