Former Bank MPC members play down negative GDP number

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Two former members of the Bank of England's Monetary Policy Committee (MPC) on Monday rejected data which showed Britain remained in recession in the three months to September.

The Office for National Statistics (ONS), the government's statistics bureau, reported in October that the British economy shrank by 0.4% in the third quarter, confounding analysts' expectations, which varied between zero growth and a small expansion.

However, speaking at Fathom Consulting's Monetary Policy Forum, Willem

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