Slow Healing

The message from Mervyn King, Governor of the Bank of England, is that the economy is healing but that the "process may be slow" (source The Times).

The underlying message being that the Bank will not be tightening monetary policy anytime soon.

So long as the politicians can resist trying to tamper further with levers of the economy, there is every reason to start to be optimistic.

Posted in: bank of england,Mervyn King,recession