Puzzles in Today's Economy - The Build Up of Household Debt - speech by Andrew Large

Speaking today to the Association of Corporate Treasurers in Newport, Sir Andrew Large, Deputy Governor of the Bank of England, says a key economic debate of the day is whether we, as a society, should be concerned about the level of debt borne by families, businesses and, indeed, governments.
Published on 23 March 2004

"On the whole the increasing availability of debt is beneficial. Debt helpfully allows households, companies and even countries to smooth their spending patterns. But as with many things in life, there are potential downsides." The Bank, he notes, considers debt from the point of view both of financial and monetary stability.

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