UK on a tightrope (FT.com via Yahoo! News)
Story date: 2008-02-08 11:20:11
Added on: 2008-02-08 12:19:18
Here are two scenarios for the UK economy. In the first, there is a sustained credit drought for consumers, resulting in a spiral of falling asset prices, lower spending, layoffs and recession. In the second, worries about credit subside without much of a slowdown, and destabilised by rising energy prices and a falling pound, inflation soars far above its 2 per cent target.
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