The Governor of the Bank of England appeared before the House of Commons Treasury Select Committee yesterday and continued his recent upbeat view of the economy.He told MPs that the economy is already showing signs of an upturn, after dipping into the very shallow recession that he had predicted during his last testimony.He also told the cross-party committee that, in his opinion, inflation will fall to 2% in the coming months before picking up again later in the year.The recession that was over almost as quickly as it had begun bears no comparison with previous recessions over the past fifty or sixty years since the fall in GDP barely registered on the precise scale used to measure a recession with two successive quarters of contraction the “basic minimum.”During the recessions of the seventies, the cumulative fall in output was much larger at around 2.5%, so by comparison using the size and the duration of the latest downturn it barely registered.Beyond Currency Market Commentary:Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.