The morning after the night before. Responding to yesterday’s news on inflation, the Bank of England’s governor, Mervyn King, hosted a press conference this morning. Because I live in the United States, it meant a 5am start for me and, in the event, there was little new except that the bank’s Monetary Policy Committee (MPC) now thinks that growth in 2011 may well be more sluggish with even a chance of a quarter of negative growth.
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