Thursday, 12 November 2009

Britain will take two more years to regain strength

"In its quarterly Inflation Report, the Bank produced new research showing that annual UK economic output was unlikely to return to the £1.4 trillion level it peaked at in early 2008 for two more years. The warning, which underlines Governor Mervyn King's repeated warnings that the UK faces an arduous struggle as it attempts to rebuild and rebalance its economy, came as the Bank signalled that recovery is nevertheless in store, and that interest rates may rise, or quantitative easing (QE) be withdrawn, in the coming months."

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