The governor of the Bank of England has called for some of the burden to revive Britain’s economy to be lifted off the central bank, suggesting the UK government should do more to support the “disappointingly slow” recovery.
Sir Mervyn King’s comments come just hours after the Bank of Japan bowed to political pressure to overcome deflation and spur growth in the world’s third-largest economy.
Sir Mervyn on Tuesday also dismissed suggestions made by his designated successor, Mark Carney, now governor of the Bank of Canada, for the Bank to ease monetary policy further by abandoning its inflation target if meaningful growth continues to elude the UK. Mr Carney succeeds him at the start of July.
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