Sentance Says Global GDP to Withstand Japan, Mideast Crises

Bank of England policy maker Andrew Sentance said the world economy will withstand the shock from the earthquake in Japan and political unrest in the Middle East, and predicted that inflation pressures will persist.

“I would expect these developments to have only short-term effects on global growth,” Sentance said in a speech today in Suffolk, England. “ Asia and other emerging markets are likely to continue to provide strong momentum to global growth, and the gradual recovery which is emerging in the U.S. and continental Europe should continue to gather momentum.”