We’re not cutting interest rates because we think the recession may already be over and we’re not even sure we are in recession anyway. That was the gist of Governor of the Bank of England’s evidence to the House of Commons Treasury Select Committee this morning.
Bailey fell back on the traditional excuse of CEOs who get it wrong and send their businesses into a downwards spiral: the weather
Andrew Bailey reminded the committee of what happened ten years ago when Britain seemed to be on the verge of a triple dip recession.
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