BoE’s Posen says credit failures are hampering UK recovery

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Bank of England Monetary Policy Committee member Adam Posen said on March 27 that structural credit differences between the US and UK economies were a key reason why the US economic recovery has been stronger so far than that of the UK.

Speaking at the National Institute of Economic and Social Research, Posen said the wider availability of non-bank options to provide finance was among the reasons for the larger improvement in the US recovery. Meanwhile, the spillover effects from eurozone risks

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