BoE's King on monetary policy

In a speech given on 12 June Mervyn King of the Bank of England said global interest rates may have been too low and "too accommodative" for too long, fanning inflation which is now feeding into the U.K. economy.

"During the fastest three-year period of world economic growth for a generation, monetary policy around the world may have simply been too accommodative," said King in the speech to business leaders in Edinburgh. "Even though the monetary stimulus around the world is now being

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