15/05/2008
The Monetary Policy Committee (MPC) is facing "its most difficult challenge yet" Bank of England Governor Mervyn King has said, dashing hopes of further rate cuts and raising concerns about inflation.
"For the time being, at least, the 'nice' decade is behind us." Mr King said in his Inflation Report press conference, referring to the recent era of economic growth, and hinted that it might be two years before the UK sees another cut in the base rate. more