–Financial Crisis Prompted Some Rebalancing – More Needed
LONDON (MNI) – Bank of England Chief Economist Spencer Dale says
that the size and structure of some trade and financial flows between
different sectors within the UK as well as between the UK and the rest
of the world are “unsustainable”.
In the foreword to the BOE’s latest Quarterly Bulletin, Dale
cites research from BOE staffers and says:
“Low national saving, a persistent current account deficit and the
rapid expansion of balance sheets are all potential symptoms of the need
for the UK economy to rebalance”.
Dale continues –
“The financial crisis appears to have prompted some rebalancing
already, but more will be required at some point”.
–London newsroom: 4420 7862 7492; email: dthomas@marketnews.com
[TOPICS: M$B$$$,M$$BE$]
