Interest rates too low for too long, says ex-Bank of England boss Lord Mervyn King
Source: BBC
Record high inflation was caused by the Bank of England keeping interest rates too low for too long, according to its former head.Lord Mervyn King said inflation has now been tamed, but criticised all central banks for failing to act fast enough initially.Speaking to BBC Radio Four's Broadcasting House ahead of the Budget next month, he also said there are "bound to be some changes" to fiscal rules.He criticised…
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