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With the economic recovery still feeble in many parts of the world, only a handful of countries have so far started nudging the cost of borrowing back up toward precrisis levels.
The central bank has tried to control the potential inflationary effects of this expansion of the money supply by borrowing back much of the extra yuan, but this policy has become less and less effective.
Appearing before MPs at the cross-party Treasury select committee this afternoon, King rejected the chancellor's tax and spending plans, laid out in his April budget, as too cautious, insisting that if the economy recovers as rapidly as Darling expects, the government must act more urgently to bring borrowing back down.
Now investors in eurozone government debt have driven the cost of borrowing back up to historic highs.
In spite of the economic difficulties, Darling should get government borrowing back on a downward path over the next 18 months.
They will only remain low under a government of any party as long as it succeeds in getting government borrowing back under control.
Similar(52)
Obama has insisted since 2011 that only the Congress has the constitutional authority to authorize borrowing backed by the full faith and credit of the United States.
As Mr. Jagger has borrowed from her, she has borrowed back.
Mink borrowed back the banner to carry it in Silver Spring's Thanksgiving parade on Saturday.
This has boosted consumer spending as households have borrowed back some of that wealth through mortgage-equity withdrawal.
Often she can borrow back her corporate commissions for a show, particularly if they are not on display.
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CEO of Professional Science Editing for Scientists @ prosciediting.com