BoE's King says short term outlook for economy 'highly uncomfortable' |
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Published
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Thu, 29 Nov 2007 10:55
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LONDON (Thomson Financial) - Bank of England governor Mervyn King today highlighted that a period of uncertainty lies ahead for the UK economy but that the central bank will do its best to smoothe out problems.Appearing before the influential Treasury Select Committee, King said the short term outlook is 'highly uncomfortable.'He also said that there is a risk that money markets will tighten going into the year end and that fear and uncertainty is driving the risk of a more substantial credit squeeze.sivakumar.sithraputhran@thomson.comss/rfwCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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BoE's King says near-term outlook less benign for inflation, growth than in Aug 