King’s letter to chancellor highlights inflation uncertainty
Bank of England governor Mervyn King's fourth letter to the chancellor this year highlights growing uncertainty surrounding Britain's inflation outlook as persistent price pressures continue to develop in the economy.
In an open letter to George Osborne, Britain's chancellor of the exchequer, sent on Monday but released on Tuesday, King reiterated his message in the Bank's November Inflation Report that CPI inflation would remain above target and "elevated" for much of next year and move
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