BoE's Large on debt puzzles in today's economy

In a speech on 'Puzzles in Today's Economy - The Build up of Household Debt' given on 23 March, Andrew Large of the Bank of England said a key economic debate of the day is whether we, as a society, should be concerned about the level of debt borne by families, businesses and, indeed, governments.

"On the whole the increasing availability of debt is beneficial. Debt helpfully allows households, companies and even countries to smooth their spending patterns. But as with many things in life, there

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