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Posen urges bankers to prevent second recession

by: IFAonline
  • 01/09/2011
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Adam Posen, the arch-dove of the Bank of England's Monetary Policy Committee, has issued his loudest call yet for the world's central banks to embark on another round of quantitative easing in order to prevent a return to global recession.

Posen’s call for action coincides with more gloomy news about the state of the British economy, reported the Independent

Consumer confidence fell for the third consecutive month in August, while the British Chamber of Commerce (BCC) today revised its growth forecast for the UK in 2011 down from 1.3% to 1.1%. MORE…

Sir Mervyn King, Governor of the Bank of England, would have been sacked three years ago if the Labour government could have found another candidate, the Independent reported.  MORE…

Customer complaints against one of Britain’s biggest banks soared by as much as 75% in the first half of this year, the Mail reported. MORE…

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