King: no need for low rates if world recovers

Bank of England Governor Mervyn King has said that if the world economy recovers, interest rates will not need to remain as low as they are. "So far we have been keeping rates low to ensure there was sufficient growth in domestic demand to offset the weaker external sector, and if the world economy recovers then of course we will not need to do that," King said.

Source: Reuters

Bank of England Governor Mervyn King has said the central bank will not need to keep interest rates as low as they are