Sterling fell sharply today after Mervyn King, the Governor of the Bank of England, warned that it may be necessary to continue the Bank’s asset purchase programme and pressed the Government to reveal its plans to reduce the country's record £178 billion deficit.
In his last appearance before MPs before the general election, Mr King outlined the political challenges facing the economy.
He said: “The crisis has left us facing many serious challenges. Among them are how to reform the international financial system, how to reduce our largest peacetime fiscal deficit, and how to restructure our banking and financial system to prevent another, more serious, crisis in future.
More: http://business.timesonline.co.uk/to...cle7037399.ece
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In his last appearance before MPs before the general election, Mr King outlined the political challenges facing the economy.
He said: “The crisis has left us facing many serious challenges. Among them are how to reform the international financial system, how to reduce our largest peacetime fiscal deficit, and how to restructure our banking and financial system to prevent another, more serious, crisis in future.
More: http://business.timesonline.co.uk/to...cle7037399.ece
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