Central Banking

George on the current state of the UK economy

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SPEECH - In a speech made on 15 October, Sir Edward George of the Bank of England said internationally and in the UK the monetary policy debate has shifted back to the possible need for monetary stimulus. He said There had been a "nervous breakdown" in the international markets, due in part to fears of international terrorism, high profile corporate collapses in the US and concerns about the impact of a war on Iraq.

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