Thursday July 2, 10:50 AM
BoE's Besley need open debate on fiscal policy
LONDON, July 2 (Reuters) - There needs to be a clear and open debate on fiscal policy, Bank of England policymaker Timothy Besley said on Thursday.
The government's unprecedently high borrowing levels to fund a bail-out of the banking sector and pull Britain out of recession have led to fears it will be many years before the public finances are returned to a more stable position.
Besley also reiterated comments in a speech earlier in the day that the MPC (A050540.KQ - news) did not have a timeframe in mind for unwinding its quantitative easing policy.
'There is no sense in which there is a specific timing discussion,' he said, when asked about QE and how to get out of the policy. Keywords: BRITAIN BANK/BESLEY FISCAL
(Reporting by Keith Weir; Tel. +44 207 542 2774)
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