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U.K. is unlikely to suffer a double-dip recession, though the economy's recovery would be 'quite hesitant', Bank of England Monetary Policy Committee member Kate Barker told News Letter, a Belfast-based newspaper.
"Do I think that it's possible we will have another quarter of negative production at some point? I do think it's possible and I think the recovery will be quite hesitant but I wouldn't necessarily describe that as a double dip," she said.
Referring to the banking sector, Barker said there was no automatic guarantee of a return to lending. "The big picture remains that the banks themselves, because they have to make repayments to governments and are concerned about changes in regulations, are somewhat anxious and it's hard to see the credit really flowing freely while they are in those conditions.
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