Saturday, 26 November 2011

UK recovery to take five years

The UK economy will take five-and-a-half years to recover to its pre-recession level, a Bank of England Monetary Policy Committee member says.

Martin Weale called the recovery "unusually slow" and signalled more quantitative easing - creating money to buy government debt - may be coming.

In a speech, he said the downturn is the longest by a year of six recessions since the 1920s.

http://www.bbc.co.uk/news/business-15888358