Gieve says can't rule out recession

Fri Jul 18, 2008 10:37am BST
 
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LONDON (Reuters) - The downturn in the economy still has further to run and recession cannot be ruled out, Bank of England Deputy Governor John Gieve warned on Friday.

In a question and answer session following a speech, Gieve noted that the Bank had not forecast recession as its central projection in its May forecasts but had shown it was a possibility.

"I can't rule recession out," he said.

 
Anthony Bolton, president for investments at Fidelity International, an affiliate of Boston-based Fidelity Investments, the world's biggest mutual fund firm, listens to a reporter's question during a news conference in Seoul October 21, 2009.   REUTERS/Lee Jae-Won
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