No 'complacency' about debt levels

- Central Banking staff
- 03 May 2002

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FEATURE - Letter published in the Financial Times, 3 May from Dr Sushil Wadhwani, Monetary Policy Committee, Bank of England.

Sir, I refer to Wynne Godley's letter ("Comparison of household debt burden", April 9), and appreciate his interest in my speech on this issue. I note that he makes similar points in his more recent letter ("Complacency about debt", May 2).

Professor Godley suggests that one might be "misled" by the "comparison between the low nominal interest payments made by households in

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