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Page last updated at 07:26 GMT, Wednesday, 22 October 2008 08:26 UK

'We have a deep recession ahead'

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The Bank of England governor and an influential think tank have predicted that the UK economy is likely to sink into recession in 2009. Lord Desai, a Labour peer and economics professor at the London School of Economics, and Sushil Wadhwani, formerly of the Monetary Policy Committee of the Bank of England, discuss how long it will take the market to revive.

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