Britain’s economy picking up, says BoE official

Suzie Neuwirth

BRITAIN may be as much as three quarters of the way through rebalancing the country’s high debt levels, according to a Bank of England policy maker.

Paul Fisher, the Bank’s executive director for markets and a member of the monetary policy committee, said that we “may be beginning to see some signs of a pick-up”, though a return to boom conditions is “unlikely in the UK anytime soon”, in notes before a speech today.

“Monetary policy can only take us so far and the necessary real adjustments will need real changes and, most importantly, real time to work through,” he said.