–Says Big Risks Presently Come From Rest Of World
LONDON (MNI) – The big risks facing the UK economy presently come
from the rest of the world and the Monetary Policy Committee can respond
to those risks by using Bank Rate or further asset purchases, Bank of
England Governor Mervyn King writes.
In a letter to Chancellor of the Exchequer George Osborne following
news that CPI inflation was again over 4% y/y in July, King said:
“The big risks currently facing the UK economy come from the rest
of the world. In responding to those risks or indeed to other isks in
either direction, the MPC can use Bank Rate or asset purchases to
achieve its objective”.
–London newsroom: 4420 7862 7491 email: dthomas@marketnews.com
[TOPICS: M$B$$$,M$$BE$,MABPR$,MT$$$$]
