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King Says ‘Low’ U.K. Money Supply to Curb Inflation
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Bank of England Governor Mervyn King said “undesirably low” money supply growth will curb inflation and return it to the 2 percent goal, suggesting he’s not yet ready to unwind emergency stimulus.
“Provided monetary growth remains well under control --and remember at present it is undesirably low -- inflation should return to target in the medium term,” King said in a speech at Exeter University in England today. The recent pickup in inflation “should be temporary,” he said.
Bonds dropped after data today showed that the inflation rate jumped the most since at least 1997 in December, posing a challenge to policy makers as they consider when the economy will be strong enough to endure... Full Story |
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Submitted Jan 19, 2010 4:39pm
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