Bank of England 'dangerously ill-equipped' for next recession, says IPPR
by Richard Partington from on (#3NCP9)
Thinktank warns of a 'car crash' as low interest rates mean further cuts to stimulate demand would not be an option
The Bank of England is "dangerously ill-equipped" to avert the next recession and remains mired fighting the last downturn, according to a report calling for the introduction of radical new policy tools.
According to the Institute for Public Policy Research (IPPR), the odds of a recession once every 10 to 15 years mean Threadneedle Street needs additional firepower for when the economy next begins to falter.
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We are heading for a car crash if nothing is changed
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