King says credit easing not for central banks


Mervyn King, the governor of the Bank of England, on Wednesday rejected calls for it to devote more of its quantitative easing programme to purchases of private-sector debt, saying that this falls on the ambit of the legislature.

Parrying calls for the Bank to spend more of its quantitative-easing stockpile on private-sector assets, King said: "When it comes to buying assets which discriminate against certain sectors of the economy, there may well be very good reasons for doing that. But there i

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