King insists economy must rebalance


The governor of the Bank of England, Mervyn King, today said there is a limit to what monetary stimulus can contribute to the UK's economic recovery - and said the economy must adjust.

At a press conference following the release of the Bank of England's latest quarterly inflation report, King said the central bank is forced to "run up an ever steeper hill" due to monetary stimulus having incentivised households and businesses to bring spending forward from tomorrow to today - meaning when

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