"[U.K. recession] could be something of a game changer for monetary policy"
- Philip Shaw, economist at Investec
U.K. economy slid back into recession, mounting pressure on Prime Minister David Cameron's government. Britain's gross domestic product fell 0.2 percent in the first quarter of 2012, after declining 0.3 per cent in the last quarter of 2011, Office for National Statistics' data showed on Wednesday.
U.K. Prime Minister David Cameron said the figures were "very, very disappointing".
"I don't seek to excuse them. I don't seek to try to explain them away. There is no complacency at all in this government in dealing with what is a very tough situation that frankly has just got tougher."
"This could be something of a game changer for monetary policy," said Investec economist Philip Shaw. "With the weakness in the economy pervasive ... there is a genuine debate to be had over whether it is wise to suspend QE."
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