BoE governor predicts economic recovery
BoE governor Sir Mervyn King has predicted growth in the next quarter.
BoE governor Sir Mervyn King has predicted growth in the next quarter.
The governor of the Bank of England Sir Mervyn King has suggested economic growth may be on the horizon, suggesting UK finances could improve in the foreseeable future.
During a live interview with Channel 4 News, Mr King stated that although he may not have a crystal ball, the next three months are likely to see a pick-up in activity.
The official suggested that much of the recovery is likely to be dependent on resolving the eurozone crisis, which he claimed continues to hang over the UK like a "black cloud".
In addition, Mr King touched upon the government's debt-cutting plans – designed to reduce the gap between spending and income by 2015.
He said it would be acceptable if the target was not achieved, with the proviso this was a result of slower-than-expected economic growth.
"I think the next quarter will probably be up. I think we're beginning to see a few signs now of a slow recovery, but it will be a slow recovery," he explained.
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