BoE's King says expectations less important than economic conditions


Mervyn King played down the importance of managing expectations when the Bank of England (BoE) normalises its monetary policy as he delivered his final speech as governor of the bank yesterday.

King said the challenge in returning to normality is "not so much managing market expectations when that eventually happens, important though that is, but in creating the economic conditions in which it is sensible to return to more normal levels of interest rates".

The UK's chancellor of the exchequer, G

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