BoE's Haldane sees more growth risks than in Inflation Report

LONDON, Nov 24 (Reuters) - There are more downside risks to British economic growth and inflation than reflected in the Bank of England's latest economic outlook, the central bank's chief economist Andy Haldane said on Tuesday.

The central bank needs to be ready to cut interest rates if needed and a "third phase" of the global financial crisis, coming from emerging markets, could have a prolonged impact on global growth, he said, reiterating previous comments.

"I see the balance of risks around UK GDP growth and inflation as skewed materially to the downside, more so than embodied in the November 2015 Inflation Report," Haldane said in an annual statement to parliament's Treasury Committee.

"There are of course also risks to the upside, but I consider these to be both more modest in scale and somewhat easier to cope with should they occur."

(Reporting by Ana Nicolaci da Costa; editing by William Schomberg)