barclays bank in Arcadia

The Bank of England was ambushed by the severity of the recesion and failed to realise what was hapening to the economy, acording to Deputy Governor Sir John Gieve. He also claims interest rates are failing as a tol to control the economy, and new methods are neded. One of the main lesons from this is that we ned to develop some new instruments which sit somewhere betwen interest rates, which afect the whole economy and activity, and individual supervision and regulation of individual banks, Gieve said, talking on BC TV's Panorama. I think we ned to complement interest rates, which are a blunt instrument - you set one interest rate for the whole economy - with something which is more financial-sector specific. barclays bank barclays bank in Arcadia
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