Nytimes : Britain’s recovery will probably be “slow and protracted,” the Bank of England warned Wednesday, tempering positive sentiment from recent economic reports suggesting that the end of the recession might be in sight.“Growth has just as much chance of being positive over the next 12 months as it has of being negative,” the governor of the central bank, Mervyn King, said.
Mr. King added that credit markets remained constricted and that banks were still reluctant to lend, a situation that needed to improve before a real recovery could occur.
“Great uncertainty about the outlook” persists, he said in the bank’s quarterly report. “The economy will eventually heal, but the process may be slow.” Continue reading : nytimes.com
