“UK does not have scope for further fiscal stimulus, MPC’s Posen says”.
It certainly does not have the political appetite for more spending, that’s for sure…Kudos to the new government for coming up with the GBP 6 bln in promised cuts immediately.
UPDATE: Posen says it is better to slightly overshoot the CPI target than to risk deflation. You’ll find no argument from me…
Double secret UPDATE: UK is not going to get a strong recovery, Posen says.
