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Bank's Tucker says recovery not on sure footing - report | Reuters

(Reuters) - The Bank of England's deputy governor Paul Tucker said the economy in Britain and globally was yet to find a "sure footing," a newspaper reported.

In an interview in the Daily Mail on Thursday, he also said that while activity has slowed "the labour market hasn't softened particularly."

"The macro-economy globally, regionally (the euro zone), even domestically isn't on a sure footing as yet," he was quoted as saying.

"The commercial property market in many parts of the world is still a source of risk."

Unemployment in Britain is running at 7.7 percent, and the number of Britons claiming jobless benefits rose for a second month in September.

The Bank of England is having to weigh up whether to pump more money into a sluggish economy or raise rates to counter inflation which remains stubbornly above target.

by In Wales (inwales aaat eurotrib.com) on Thu Oct 14th, 2010 at 12:00:06 PM EST
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