The Spectator

Portrait of the week | 28 February 2013

issue 02 March 2013

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Moody’s reduced Britain’s credit rating from AAA to AA1. George Osborne, the Chancellor of the Exchequer, said: ‘Far from weakening our resolve to deliver our economic recovery plan, this decision redoubles it.’ Sir Mervyn King, the governor of the bank of England, was outvoted on its Monetary Policy Committee when he proposed more quantitative easing in February.

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