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9 Sep 2013
George Osborne upbeat on UK economy
FXstreet.com (Barcelona) - British Chancellor of the Exchequer George Osborne spoke on the state of the UK economy on Monday, saying that it is “turning a corner” and underscoring the merits of the government´s austerity program for fending off the crisis.
Addressing business leaders in London, the Chancellor said that despite the improvements in recent data, pointing to a sustained recovery, it would be unreasonable to start tightening market conditions already.
“The only sustainable path to prosperity is to reject the old quick fixes and stick to the course we have set,” he suggested. “This is a hard, difficult road we have been following. But it is the only way to deliver a sustained, lasting improvement in the living standards of the British people.”
This way George Osborne backed Bank of England governor Mark Carney´s forward guidance policy, according to which interest rates would remain at low levels at least until late 2016.
Addressing business leaders in London, the Chancellor said that despite the improvements in recent data, pointing to a sustained recovery, it would be unreasonable to start tightening market conditions already.
“The only sustainable path to prosperity is to reject the old quick fixes and stick to the course we have set,” he suggested. “This is a hard, difficult road we have been following. But it is the only way to deliver a sustained, lasting improvement in the living standards of the British people.”
This way George Osborne backed Bank of England governor Mark Carney´s forward guidance policy, according to which interest rates would remain at low levels at least until late 2016.
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