Bank of England: UK’s Economic Recovery Remains Fragile

The U.K. economic recovery is likely to pick up its pace in 2010 due to stimulus measures and a weaker pound, but may be dampened by the need for “substantial fiscal tightening,” the Bank of England’s Monetary Policy Committee said in its quarterly Inflation Report on Wednesday. The report also said that inflation is likely to return to well below its 2% target and that Europe’s sovereign debt crisis could pose a risk to Britain’s fragile recovery –  MW