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BOE King Uncertain on Outlook

The economy faces a "long period of healing" and this -- combined with uncertain fiscal plans -- makes it too soon to predict the course of monetary policy, Bank of England Governor Mervyn King said Tuesday. In his first major speech of 2010, King appeared unrattled by Tuesday's higher-than-expected December inflation reading, saying it did not change the Bank's previous forecasts that the spike in inflation should prove temporary. But he warned that markets can be unforgiving of fiscal policy uncertainty, which also made it harder to set monetary policy. He said Britain's finance minister had promised to deliver credible fiscal consolidation plans in his pre-election... Full Story

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Submitted Jan 19, 2010 7:20pm

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