Summary
Bank of England Governor Mervyn King yesterday played down the prospect of an imminent interest rate hike despite signalling borrowing costs would need to rise to curb inflation.
Mr King denied policymakers were paving the way for an early rate rise - but the Bank's own inflation forecast indicated at least two increases were on the way in 2011 to bring inflation to target within two years.See the full content of this document
Extract
King: No Rush to Raise Bank Rate Despite High Inflation
The report also revealed a downgrade to this year's growth forecast, although the Bank said the UK should avoid a double- dip recession.
After publication of the report, Mr King said while i...See the full content of this document
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