Recession may be over

The newest member of the Bank of England’s monetary policy committee David Miles has said the worst of the recession and housing slump is probably over. He said his ‘hunch’ was that expectations in the housing market look a bit better now than a few months ago and that we have seen most of the ‘overall aggregate’ house price falls. However, he added that Britain is set for an ‘anaemic’ recovery with little chance of returning to buoyant growth in the short term.