Downing Street Says » Bank of England forecast

» Wednesday, February 11, 2009

Bank of England forecast

Asked what the Prime Minister’s view was on Mervyn King’s prognosis this morning, the PMS said that the Prime Minister’s view was that we had an independent Bank of England that produced independent forecasts and we would update our forecasts at the time of the Budget. Asked if the Prime Minister was alarmed at all, the PMS said that we had not got into the habit over the past 12 years or so of commenting on the activities of the Bank of England and we wouldn’t be starting now.

Asked for a view on the Governor’s comments that money was not passing through the system quickly enough still, the PMS said that we needed to continue to do all we could to get lending flowing. We announced a significant new package a few weeks ago, which we were in the process of implementing. Clearly this was not going to have an impact overnight and we were still in negotiation with the banks over the commitments that they would enter into in relation to their level of lending.

1 Comment »

If the global crisis continues at the present rate, by the end of this year only two banks will be left operational … the Blood Bank and the Sperm Bank!

And don’t you just know that when these two banks merge, it would still be full of bloody wankers.
Comment by W.Connor — 11 Feb 2009 on 9:49 pm | Link

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