Osborne Points to BOE Action If Cuts Lead to Slump
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Chancellor of the Exchequer George Osborne signaled that he’s counting on Bank of England Governor Mervyn King to temper any economic slump that might be triggered by the government’s deficit-reduction effort.
The austerity plan Osborne announced yesterday has “some caution built in to it and there is of course the freedom for the Bank of England to deploy monetary-policy tools as well,” Osborne told BBC Radio 4’s “Today” show.
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Osborne Points to BOE Action If Cuts Lead to Slump