The UK current account deficit and all that

Bank of England Monetary Policy Committee member Stephen Nickell said in a paper published on Tuesday 25 April that the UK current account deficit is probably sustainable so long as average returns on equities exceed those on debt.

The trade deficit might worsen in the short-term as domestic demand recovers from a weak position last year, Nickell said in the paper.

"So long as average returns on equity type assets continue to exceed average returns on debt type assets, the current position is

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