RTTNews - Wednesday, Andrew Sentance,the Monetary Policy Committee member of the Bank of England said the recession in the U.K. might be bottoming out. And we should be able to look forward to a recovery beginning either later this year or early in 2010, he added.
He noted that the shift in the economic data was consistent with the variations in the balance of forces affecting the economy, although the exact timing and strength of recovery are unpredictable.
Sentance said the recovery should be underpinned by a continuation of the low and stable inflation, which is the key responsibility of the MPC. He stated, An underpinning of low inflation should help ensure that recovery can be sustained - which in turn is a key issue for business confidence and future prosperity in the longer term.
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