Bank of England Caught Between Boom and Bust
3.39.14pm BST (GMT +0100) Mon 5th Apr 2004
Reacting to this morning's index of production figures showing manufacturing output falling, Dr Vince Cable MP, Liberal Democrat Shadow Chancellor, said: "With manufacturing back in recession people are justifiably anxious about their jobs."
"Today's figures show that the economy continues to be fundamentally imbalanced."
"Faltering manufacturing on the one hand and a house price boom on the other means the Bank of England is caught between curbing a consumer boom or preventing an industry bust."
"Britain's twin problems of runaway consumer spending and manufacturing in recession cannot be resolved by the Bank of England alone."
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[Next story]: Falling Manufacturing Figures Reveal Imbalanced Economy (Mon 5th Apr 2004).
[Other news stories from April 2004 (28)]
Related News Stories:
Tue 11th May 2004:
[Manufacturing Output Falling: Bank of ENgland Cannot Solve Problem Alone]
Thu 29th Jan 2004:
[Homeowners Need Protection Against House-Price Boom and Bust - Cable]
Tue 13th Jan 2004:
[Manufacturing Output Falling: Bank Of England Cannot Solve Problem Alone - Cable]
[Losers In BCCI Bankrupcy Will Be Dismayed At Alleged Bank Of England Failure To Act]
Wed 22nd Oct 2003:
[MPC Minutes Show Bank Of England Trapped Between A Rock And A Hard Place - CABLE]
Thu 24th Apr 2003:
[New Measures Needed To Stop "Boom and Bust" - Cable]
Thu 20th Mar 2003:
[Bank Of England Holds Its Breath For The Budget]
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