Mervyn King

Bank of England governor Mervyn King last night warned of an unpleasant, "sober" decade ahead and hinted at further QE ahead of today's government Spending Review.

THE LEADER

Andrew Sentance voted against the rest of the Monetary Policy Committee (MPC) for a rise in interest rates for the third consecutive month, minutes from the August meeting show.

UK inflation dropped marginally to 3.1% in July but remains well above the Government's 2% target.

Bank of England governor Mervyn King says growth is going to be weaker than previously expected and inflation is likely to above the 2% target until the end of 2011.

Bank of England (BoE) Governor Mervyn King has issued a stark warning to MPs "not to read too much" into recent strong GDP figures.

The Consumer Prices Index (CPI) hit a 17-month high of 3.7% in April, forcing Bank of England governor Mervyn King to write to new Chancellor George Osborne to explain why.

While there is sure to be some heavy criticism coming from the media and other commentators about the apparant ineptitude of the MPC to correctly forecast near term inflation, spare a thought for Mervyn King.

UK inflation probably accelerated to a three-month high in April as higher energy costs and the weak pound stoked prices enough to prompt a letter of explanation from Bank of England governor Mervyn King.

Bank of England Governor Mervyn King believes interest rates in Britain will stay lower for longer than the markets expect to compensate for the fiscal pain ahead.