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UK Monetary Policy Must Be Expansionary: Miles

Thursday, 23 Feb 2012 | 1:00 AM ET

David Miles, MPC member, Bank of England, told CNBC, "there hasn't really been much of a recovery from what was one of the deepest recessions in the history of this country. Where monetary policy needs to be right now is to maintain a very expansionary stance and try and boost demand as quickly as possible."