Tag: Lord Mervyn King

  • King says politicians need to tell the hard truths

    What will really stay with me from this morning was the sombre reality check from a former governor of the Bank of England.

    Lord Mervyn King called on politicians to tell the hard truths he believes the public need to hear: that we are confronting a tough economic picture for years to come, potentially a more difficult period than the years of austerity under the coalition.

    Nor did he hold back from identifying mistakes he believes the Bank of England has made, along with other central banks around the world, in being too slow to try to stamp out inflation and too reluctant to pull back from quantitative easing (the process of printing money).

    Source: BBC