Britain: Return to Recession?


Inquiring minds are looking at the frightening admission of a key British banking expert:

Britain faces a ‘significant’ risk of sliding back into recession, a key policymaker at the Bank of England revealed today.

Warning that the central bank’s growth forecast for this year and next may be too optimistic, BoE Monetary Policy Committee Member Martin Weale said it would be foolish to rule out the possibility of a double-dip recession.

Mr Weale, who voted with the majority to keep monetary policy ultra loose in his first Monetary Policy Committee meeting this month, said the BoE’s latest economic forecasts put ‘a significant chance on the economy contracting over a four-quarter period’.

Amazing how the stories around the world are earily the same…all the politicians and bureaucrats are suddenly getting religion at the same time.

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