The fear that haunts the Bank of England is that Britain could become the next Japan. Permeating the whole of Threadneedle Street's latest update on the state of the financial sector is the conviction that, as with Japan in the 1990s, the sickness of the banking sector could throttle the life out of the economy. With Britain already half way through its own lost decade, the Bank's financial policy committee believes immediate action is needed that will force lenders to improve their financial resilience. (guardian.co.uk)
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