Bank won’t hike rates as gesture to market: King
Raising interest rates to signal to markets the Bank of England intends to combat inflation would be counterproductive, Mervyn King, the governor of the Bank of England, said on Tuesday.
At a hearing with the Treasury Select Committee on the Bank's February 2011 Inflation Report, King said the Monetary Policy Committee (MPC) believed raising interest rates as a gesture to markets was "self defeating", adding were the Bank's rate-setting committee to proceed with a policy measure that did not
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