BofE cuts growth forecast amid 'heavy' uncertainty

The Bank of England's Inflation Report is ten years old, Mervyn King told a well attended press conference on Wednesday. He announced a cut in the Bank's growth forecast for the UK economy, suggested he didn't know what the stability and growth pact was and even found time to give the England football teams manager a mention. CentralBankNet reports from the press conference.

Presenting the Bank of England's February inflation report governor in waiting Mervyn King said "We were surprised at

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