Chances of recession slim, says Bank of England

The UK has only a one in 10
chance of going into recession, according to the Bank of England.

Mervyn King, the Bank of
England’s deputy governor for monetary policy, explained, "The important big
picture is that the UK has withstood the slowdown that hit the rest of the
world economy. Of course we have been affected, but that’s been less marked in
the UK than elsewhere."

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

Email(Required)

OptOut

From time to time, we will send you emails about selected products, events and services from Personnel Today and OHW+ - but you can choose to opt-out at any time. If you do not wish to receive these emails, please tick this box.

Comments

This field is for validation purposes and should be left unchanged.

Δ

His comments followed the Bank
of England’s quarterly inflation report that suggested that the UK was likely
to enjoy steady growth over the next two years.

The report suggests that
underlying inflation was more likely to end the two-year period above the
Government’s 2.5 per cent target than below it, reports the Financial Times.