King stresses wait-and-see approach to rate-setting

mervyn-king

Mervyn King, the governor of the Bank of England, on Wednesday shot down the suggestion that the central bank's rate-setting committee was on the whole inclined towards policy tightening, stressing that the debate still focussed on the right amount of support for nascent recovery.

In his first appearance before the new UK parliament's Treasury Select Committee, King said the Monetary Policy Committee's present debates still concerned the right degree of stimulus, "not about applying the brakes."

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