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- Title
The Governor's speech to the CBI North East annual dinner.
- Abstract
The article presents a speech by the Governor of the Bank of England, delivered on October 11, 2005 in Gateshead. He discusses Great Britain's economy growth and history. He asserted that the performance of the Great Britain's economy since 1992 can be regarded as more stable than in 1970s and 1980s. He explained the reasons for rejecting the view that the Bank of England should control the short-run path of output. The first reason he told was the developments outside the Great Britain economy which can produce large shocks to total demand and the second reason was the change in growth rate of potential supply over time. He talks on the integration of China, India and other emerging markets in Asia, higher oil prices and its indirect effect on cost of producing goods and services and ultimately on Great Britain's economy.
- Subjects
UNITED Kingdom; BANK of England; ECONOMIC conditions in Great Britain; GROWTH rate; SUPPLY-side economics; PRICE inflation; EMERGING markets; BANKING industry personnel
- Publication
Bank of England Quarterly Bulletin, 2005, Vol 45, Issue 4, p480
- ISSN
0005-5166
- Publication type
Speech