King says UK inflation may dive

Bank of England governor Mervyn King said Tuesday 24 April that he expects the CPI annual inflation rate to fall back sharply in the next 4-6 months.

King was appearing before the Treasury Select Committee on the 10th anniversary of the Monetary Policy Committee's independence.

King told the committee the MPC will look beyond short term movements in the target CPI annual rate and that the measure will probably come down over the coming months.

He said he had no objections to future vacancies on the

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