BoE's Blanchflower steps up call for cuts

David Blanchflower, a member of the Bank of England's Monetary Policy Committee (MPC), issued an apocalyptic forecast about Britain's economic prospects, and urged immediate interest rate cuts of at least 25 basis points to prevent the country falling into a prolonged recession.

In an interview with Reuters, a news agency, ahead of next Thursday's MPC meeting, Blanchflower suggested the Bank's failure to cut rates and its continuing focus on inflation targeting was irresponsible given the cur