Tag: forecast
Bank of England Deputy Governor warns about Financial Slowdown
Charles Bean, the Bank of England’s deputy governor warned that the downturn was as bad as in the 1970s and that everytime things looked up as if they were going to improve, a setback occurred. At Christmas 2007 he said that he had thought that things were past the worst but since then things had deteriorated.
He predicts that if the oil prices stabilised, along with credit markets then growth should pick up and inflation start to fall. And he suggested that the current UK standstill in growth was only temporary.
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Posted: August 25th, 2008 under commentary, forecast, uk.
Tags: bank of england, commentary, downturn, forecast, growth, uk
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