Can’t slip anything past Merve the Swerve. He’s speaking in New York.
- UK output has been broadly flat over the last two years
- Very hard to know what will happen in euro area
- Euro area uncertainty has dampened UK investment
- Squeeze on UK pay should diminish
- No easy solution to euro area crisis
- Confident funding for lending scheme will feed through to lending
- Very important to deal with “too big to fail” banks