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BoE's Dhingra warns of deeper and longer recession with higher rates

Economy Dec 03, 2022 16:28
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© Reuters. FILE PHOTO: A general view of the Bank of England building, in London, Britain, August 4, 2022. REUTERS/Maja Smiejkowska

LONDON (Reuters) - Bank of England rate-setter Swati Dhingra said in an interview published on Saturday that higher interest rates could lead to a deeper and longer recession, adding there were few signs that demands for higher wages risked a wage-price spiral.

"You do see a much deeper and a longer recession with rates being much higher," she told the Observer newspaper. "That is what I think we should all be worried about ... are we going to end up lengthening and deepening the recession if the tightening continues at the pace it is?"

BoE's Dhingra warns of deeper and longer recession with higher rates
 

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Comments (6)
Graham Kinnear
Graham Kinnear Dec 04, 2022 23:29
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Talk about trashing your economy. Lets talk it down at every opportunity. Whats going on here?
John Williams
John Williams Dec 03, 2022 21:05
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I agree that China is a great investment, but people tend to ignore India. Huge powerful economy with a population that will surpass China in a few years. Look at Indian ETFs - did they suffer as much of a slump as everything else over the last 12/18 months? No. Look into this.
Puk Pups
Puk Pups Dec 03, 2022 21:05
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India never will be a good investment opportunity and a good economy. Mongolia 🇲🇳 and Liberia 🇱🇷 have more chances to be better than India
Allan Orr
Allan Orr Dec 03, 2022 20:40
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Get your money into China for 2023
Pedro Gonzalez
Pedro Gonzalez Dec 03, 2022 19:53
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Decline of the British and wider western empire (USA) is a fact. China takes over eventually
Flavius Justinianus
Flavius Justinianus Dec 03, 2022 19:40
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We need interest rates above inflation, anything else is expansionary monetary policy. We need to clean the economy once and for all. We need to move away from a financialized economy of debt and mortgages, to one that produces real stuff. We need to encourage savings for a sound economy and we need to discourage borrowing with artificially low interest rates and QE.
John Williams
John Williams Dec 03, 2022 18:07
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Higher rates in a deep long recession? Econimic suicide again by BoE.
 
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