It seems that every time Mervyn King makes a comment lately, it is to revise his pessimistic predictions downwards.
The governor of the Bank of England now believes that economic growth in Britain will fall to as low as 1 per cent by the end of this year, and inflation - which hit 4.4 per cent last week- will rise to as high as 5 per cent.
‘‘I think with broadly flat output, it’s bound to be the...
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