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Mervyn King

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BOE's King Says More Steps Needed for Growth

The U.K. economy is in recovery but policy makers need to do more to lift growth, Bank of England Gov. Mervyn King said Sunday."We are seeing a recovery. But it's only a modest recovery, and we certainly can't be satisfied with it," Mr. King said in an interview with Sky News.The U.K. economy expanded 0.3% between January and March and the BOE expects it to grow 0.5% in the second quarter, according to central bank forecasts published Wednesday.Mr. King, who steps down in June after 10 years at the helm of the BOE, said with growth improving and inflation cooling policy makers need to do more to ensure spare capacity in the economy--idling factories and unemployed workers--is used up.The BOE has kept its benchmark interest rate at a record low of 0.5% for more than four years and has, since 2009, bought 375 billion pounds ($573 billion) of U.K. government bonds with new money, a stimulus push known as quantitative easing.Mr. King has been pushing for yet more asset purchases to underpi...

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  10. Bank of England job will put Carney to the test

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  11. Insight: Central bankers cast as superheroes with no script

    It is your first day as the new U.S. Federal Reserve chief: the main interest rate is 4.50 percent, the economy is overheating and the task is to keep inflation and ...

  12. LONDON MARKETS: Tesco, BHP Drop In Weak U.K. Market

    Most U.K. stocks slumped on Wednesday, with shares of BHP Billiton PLC and Tesco PLC among major decliners on earnings reports.The FTSE 100 index dropped 1% to close...

  1. Bank of England's King sends message to successor Carney

    Bank of England Governor Mervyn King has urged successor Mark Carney not to bring to Britain his trademark policy of spelling out how long interest rates will remain...

  2. BOE's King: More Needs to Be Done for UK Recovery

    The U.K. economy is in recovery but policy makers need to do more to lift growth, Bank of England Gov. Mervyn King said Sunday."We are seeing a recovery. But it's on...

  3. BoE governor King warns of euro risk to British recovery

    The single biggest risk to Britain's nascent economic recovery is continued eurozone weakness, the Bank of England's outgoing governor Mervyn King said in a televisi...

  4. BOE's King: More Needs to Be Done for U.K. Recovery - TV

    More needs to be done to secure the U.K.'s economic recovery, Bank of England Gov. Mervyn King said Sunday."We are seeing a recovery. It's only a modest recovery, an...

  5. LONDON MARKETS: FTSE 100 Gains For 10th Straight Day

    London's benchmark stock index rose for a 10th straight trading session Wednesday, after the Bank of England said it has become more upbeat about the U.K.'s growth p...

  6. EUROPE MARKETS: European Stocks Rise With GDP Reports In Focus

    European stock markets climbed to multiyear highs on Wednesday, as weak growth reports from the euro zone raised hopes the European Central Bank would consider more ...

  7. LONDON MARKETS: FTSE 100 Eyes 10th Day Of Gains As EasyJet Rallies

    London's benchmark stock index was on track for a tenth straight day of gains on Wednesday, after the Bank of England said it has become more upbeat on the U.K.'s gr...

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