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BoE expert: 'UK is recovering'
The chief economist of the Bank of England, Spencer Dale, has said that Britain is on the road to recovery and defended the £200bn programme of quantitative easing (QE).
In a speech to the Essex Institute of Directors Mr Dale said that a year ago, the country was in "economic freefall", but that the year is ending with "signs that we have turned a corner on the road to recovery."
Mr Dale also said that the Bank's policy of QE - buying assets such as government and corporate bonds to increase the supply of money in the economy - had played a critical role in the "stabilisation of the economy."
Post Date: December 2nd, 2009
In a speech to the Essex Institute of Directors Mr Dale said that a year ago, the country was in "economic freefall", but that the year is ending with "signs that we have turned a corner on the road to recovery."
Mr Dale also said that the Bank's policy of QE - buying assets such as government and corporate bonds to increase the supply of money in the economy - had played a critical role in the "stabilisation of the economy."
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Post Date: December 2nd, 2009
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