Market Commentary and Intraday News

BoE's King Sees Signs Of Slow Economic Recovery: Report

243 days ago

(RTTNews) - Bank of England Governor Mervyn King said on Thursday that the U.K. is likely to experience a slow recovery, reports said citing his interview to Channel 4 television.

"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 said.

"After a banking crisis one can't expect to get back to normal and I fear it will take a long time," King said during the interview.

King noted that the recovery will depend largely on the economic developments in Eurozone, that has cast a "black cloud of uncertainty" over the whole economy.

"The United States is struggling a bit, Brazil and China are slowing," King told the television. "Our fate - in terms of the speed in which we come out of the flat period we're in - will depend very much on what happens in the rest of the world."

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2012 RTTNews.com. All Rights Reserved

View all of today's news »