King grilled over £37bn grabbed by UK Treasury


Mervyn King, governor of the Bank of England (BoE), was today (November 27) questioned by the UK parliament's Treasury Committee about the £37 billion ($59 billion) in profits from the BoE's quantitative easing (QE) programme the Treasury is appropriating to help finance the government's budget deficit.

King made his quarterly appearance before the committee alongside Martin Weale, Ben Broadbent and Paul Fisher, three members of the BoE's Monetary Policy Committee (MPC).

Much of the hearing was

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