BoE's King sees bumpy ride ahead for UK economy

Bank of England governor Mervyn King said on Tuesday 25 October that the UK economy faces increased volatility in the next few years than has been experienced recently.

"The idea that the MPC can fine-tune the economy and can in fact ensure that the economy grows at some fixed rate every quarter is absolutely imaginary," King said in answer to questions at a House of Lords Economic Committee.

"I think a number of people in the last six months have been talking as if the MPC targets demand or ev

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