The British economy continues to wrangle with very weak growth even as consumers are being hammered by surging prices. The result is an inflation rate double the target ?ideal? of 2% annual inflation. And while the last few years have not been a walk in the park, there appears little prospect for immediate relief.
In a speech delivered in mid December, Charles Bean, Deputy Governor for Monetary Policy and member of the Monetary Policy Committee (MPC), noted that the economy is showing signs of improvement, but cautioned that ?it may be some while yet before normality is restored."
That assessment was made four months ago and one would be hard-pressed to see any progress since then. Indeed, for the first quarter of the year, the situation may have actually worsened.
For four straight quarters in 2010, Gross Domestic Product made positive gains yet for the first quarter of this year,
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Jordana Brewster Laetitia Casta Claudette Ortiz Julia Stiles Marisa Miller
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