Britain is not ready for its next recession and must consider changes to the way...
LONDON - Britain is not ready for its next recession and must consider changes to the way it manages its economy to see off the downturn when it comes, the Resolution Foundation, a think-tank, said on Monday.
The Resolution Foundation said the Bank of England could muster only a quarter of the firepower needed in a typical recession because its key interest rate is so low and its bond-buying program is likely to prove less effective now. “Now is the time to plan for the next recession – because the one thing we know for certain is that it will happen,” James Smith, Research Director at the Resolution Foundation, said.
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