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Loan protection: UK at 'risk' of double-dip recession

The UK may be at risk of slipping back into recession, it has been claimed.

Martin Weale, the newest member of the Monetary Policy Committee (MPC), expressed his belief that it would be "foolish" to rule out a double dip recession.

In an interview with The Times, Mr Weale cited that a rise in unemployment as well as declining house prices and another banking crisis could all have detrimental effects on the economy.

He told news provider: "That could be a sovereign debt crisis or it could be a new liquidity crisis in the private sector

"The whole of the lesson of not only the recent crisis, but earlier ones, is that you have periods of calm and then things bubble up again."

There is also a risk that consumers may be unwilling to spend more to help boost the flagging economy, he added.

Saving is expected to increase over the coming months as individuals become more cautious while investment is predicted to drop.

Posted by Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt ADNFCR-2776-ID-800038447-ADNFCR

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