MPC member predicts mild recession

Speaking at the Leicester Chamber of Commerce gala dinner last night, Sentence also said he believes the effects of credit crunch will not begin to fade until the second half of 2009. He described the Bank of England’s August Inflation Report is a reasonable assessment of the UK’s economic outlook, and agrees with its prediction the next twelve months will be characterised with flat output and small increases and declines in GDP in each quarter. Sentence sees a recovery beginning in the middle of 2009, and says: “In the second half of next year we should see a gradual recovery, as the spi...