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Bank in no hurry to make a further cut in interest rates

The deputy governor of the Bank of England said yesterday that he could not rule out a recession and that the risk of one had increased as the credit crunch dragged on in the past two months.

MARK WILLIAMSON mark.williamson@theherald.co.uk THE deputy governor of the Bank of England said yesterday that he could not rule out a recession and that the risk of one had increased as the credit crunch dragged on in the past two months.