King warns successor Carney on interest rate plans

Outgoing Bank of England Governor Sir Mervyn King has urged successor Mark Carney not to spell out how long interest rates will remain low when he takes charge.

In an interview with Sky News, King stressed his opposition to one of the changes that the Canadian is expected to make - signalling how long interest rates will remain low. "What none of us can know of course, is what the right decisions will be down the road," King said. "They will have to be made month-by-month, according to how the economy develops." King - who steps down at the end of June - also said the Bank cannot be run as a "a one-man show", displaying concern that expectations of the new Governor are too elevated. However, King (pictured) also said Britain was fortunate ...