Monetary policy best placed to boost short-term growth: King

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Mervyn King, the governor of the Bank of the England, on Wednesday reiterated the suitability of monetary policy for boosting and managing growth in the short run.

In remarks to the UK's Trade Union Congress, King noted that broad money growth, which is about 1% at annualised rates, remained sluggish. "In the wake of the worst financial crisis ever, the amount of money in our economy - broad money - is now barely growing at all," King said. "It was the failure in the 1930s to halt a marked contr

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