altyfc
Joined: 29 Dec 2004
Posts: 1232
Location: Aardvarkland
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 Posted: Thu Feb 14, 2008 12:58 pm Post subject: Recession in the UK? |
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The Bank of England governor, Mervyn King, admitted yesterday that the economy might grind to a halt this year - but warned that the continuing risk of inflation made further interest rate cuts unlikely.
Faced with stagnating growth and rising prices for food and energy, King said the bank was facing one of its trickiest periods since assuming control of interest rate policy more than 10 years ago.
When asked whether a recession was possible this year, he said the predictions for growth in yesterday's inflation report were "not inconsistent" with two quarters of zero or negative growth - the technical definition of a recession.
Is a recession in the UK inevitable?
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