BoE issues gloomy assessment of UK economy

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BoE issues gloomy assessment of UK economy

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02-12-2009, 04:21 AM

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BoE issues gloomy assessment of UK economy

In its latest Quarterly Inflation Report, the Bank of England has issued its gloomiest assessment for the UK economy so far. The Bank warned that the UK is “in a deep recession” and forecast that the economy may contract by 4% from mid-2008 to mid-2009. The Bank’s Governor, Mervyn King, said rate cuts may no longer [...]

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