MPs set to grill King over LIBOR and UK growth

Bank of England governor Mervyn King will appear before MPs at the House of Commons this morning to give evidence on the UK's financial stability and the state of the economy.

Yesterday the International Monetary Fund dramatically cut its forecast for UK economic growth from 0.8% to 0.2% for 2012 and from 2% to 1.4% for next year. The cuts represented the largest downward revisions for a major Western economy contained within the IMF's latest World Economic Outlook. It is likely King (pictured) will have to answer questions on why the Bank’s stimulus measures are failing to kick-start growth. He also faces a grilling over his role in the LIBOR manipulation scandal, after it emerged he applied pressure on Barclays chairman Marcus Agius to make sure former...