BoE's King on the UK economy

In a speech given on 13 June, Mervyn King of the Bank of England said consumer spending may bounce back after a weak first half and that inflation may accelerate.

King said balancing those risks is a 'difficult' task but added that the rate-setting Monetary Policy Committee will react 'promptly' to whichever of those risks 'appears to be materialising in the months ahead'.

'As a true Yorkshire batsman would say: be ready to play on either foot and keep your eye on the data,' he said.


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