King: rebalancing pivotal to Britain’s economic health

A drop-off in external demand is the biggest threat to the British economy, Mervyn King, the governor of the Bank of England, on Wednesday said.

Speaking at the Bank's quarterly Inflation Report press briefing, King reiterated his calls for G20 leaders to club together to deal with global imbalances, saying: "I hope the G20 are able to deliver a lot more cooperative a message than the ones that we have been hearing over the past few days."

Noting that it was pivotal to Britain's long-term econom

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