Bank of England's Bean Says Economy Will Recover as Commodity Prices Stabilize

CEP News) - Bank of England Deputy Governor Charles Bean said he expects the British economy to recover as commodity prices stabilize. Speaking in an interview with the BBC following a meeting of central bankers in Jackson Hole, Wyoming, Bean said he nevertheless continues to see the financial market turmoil as dragging on for some time. Bean was attending a meeting of top central bank officials over the weekend - one year after the start of the financial crisis that has led to more than $500 billion in losses and writedowns - to discuss how to prevent such a collapse from happening again.