UK economy 'in uncharted territory'

- Central Banking staff
- 15 Jul 2003

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Giving evidence before the UK parliament's treasury select committee on Tuesday new Bank of England governor Mervyn King said he had "no idea" if 3.5 per cent was exactly the right level for UK interest rates. Rachel Lomax also appeared before the committee and said Britain was in "uncharted territory" with inflation at current rates.

Source: Financial Times

Consumption growth is likely to be slower in coming years than it has been of late, new Bank of England governor Mervyn King said on Tuesday

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