Mervyn King denies ‘dissent stifled’ at Bank of England

Bank governor denies staff reluctant to speak out, after report reveals concern among junior workersSir Mervyn King has denied there is an intimidatory culture at Threadneedle Street, and insisted his staff at the Bank of England were happy to express dissent.Responding to a report that junior staff were reluctant to speak out as a result […]
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UK risks triple-dip recession, Mervyn King warns

Persistently low growth will last until the next election, Bank of England governor warns as he cuts 2013 growth forecast to 1%The UK economy risks suffering from a triple-dip recession amid a period of persistently low growth that will last until the next election, the governor of the Bank of England has warned.Sir Mervyn King […]
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Banks should have had a leverage cap before crash, says Mervyn King

Bank of England governor backs Vickers commission’s stricter cap, while IMF warns of capital flight as eurozone crisis drags onThe Bank of England could only have staved off the “great recession” of the past five years if it had been given the power to rein in reckless lending by Britain’s banks, Sir Mervyn King has […]
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UK government borrowing rises to record August high

Blow for George Osborne as latest figures mean deficit has widened 22% so far this year – compared with target of 4.6% reductionGeorge Osborne’s debt reduction plans took another blow last month as government borrowing hit its highest on record for any August.Public sector net borrowing excluding financial sector interventions – the government’s preferred measure […]
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Mervyn King says missing debt goal is ‘acceptable’

Bank of England governor says weak state of economy justifies revising target, which was drawn up in better timesSir Mervyn King, governor of the Bank of England, has endorsed tearing up the government’s debt-reduction goal after he said it was “acceptable” to miss the target if the economy continued to grow slowly.In his first live […]
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Inflation: when the commute costs £5,000 | Editorial

Which has gone up more in the five years since the financial crisis began: wages or food prices?School may be out for summer, but it’s never too late for a quiz – especially when the answer could help determine the results of the next election. So, here goes. Which has gone up more in the […]
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Learn from Britain’s Olympians, Mervyn King tells bankers

Bank of England governor urges City to embrace fair play and work ethic of athletes at London GamesThe governor of the Bank of England has urged those in the scandal-hit finance sector to learn lessons from Britain’s Olympians.Sir Mervyn King said the sportsmanship and work ethic displayed by the stars of the London Games needed […]
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George Osborne: the worst of all the British chancellors I’ve known

George Osborne’s tenure at the Treasury has been a disaster – now David Cameron must decide if he should sink with his friend or rescue his ailing governmentNo British government can work if the chancellor fails. It is the greatest job in politics beyond prime minister, even if most of its recent holders have been […]
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Mervyn King tells banks: you can’t go on like this

Governor’s scathing attack on industry’s culture of excess as new scandal eruptsSir Mervyn King, the governor of the Bank of England, piled the pressure on the City on Friday when he said something had gone “very wrong” with Britain’s banks that needed to be put right.As Barclays and other high street banks became embroiled in […]
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