LONDON (MNI) – After a week of gloomy economic data in the UK, Bank
of England Deputy Governor Charlie Bean tells The Sun that “there is
light at the end of the tunnel.”
Bean tells the paper that inflation will come down “in time for the
Olympics” – due to be held in London in the Summer of 2012.
Although Bean is mildly upbeat, he does have some concerns, noting
growth and confidence will be fragile.
“It’s a long tunnel, I won’t dispute that. And even next year, if
the squeeze in household income has stopped, it still won’t be pretty
strong growth. But it won’t be as bad as this year,” he said.
Bean also showed concern at events across the Eurozone. He said the
EMU members need to “find a way through their difficulties”, but went on
to say that it is in the UK’s interests for a successful outcome. He
added: “if it unravels badly, in a messy way, we inevitably are going to
suffer.”
–London newsroom 0044 20 7862 7495; email: ukeditorial@marketnews.com
[TOPICS: MT$$$$,M$$BE$]
