Bank of England: The road to recovery will be long

Britain’s economy has experienced very heavy year, and the process of revitalization has just started, today announced Bank of England.
Today’s report of the Bank for inflation in the third quarter shows that the restrictions in lending and fears about the state of financial balance sheets will continue to adversely affect the cost, which would affect the ability of Britain to emerge from recession. The manager of the Bank of England Marvin King will take several quarters for the country can recover damages from recession.

The report states that in the short term, inflation will probably rise sharply down by over 2 percent bank.

Last year, Bank of England lowered interest rates and started to inject billions of pounds into the economy after Britain entered the worst economic downturn in recent decades. While other leading economies like the U.S., Japan and Germany recently reported economic growth, the UK remains officially in recession.

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Finance

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