Call for 'mouse' Mervyn to resign

Stuart Law accuses the Bank of failing to show true leadership in what he calls “unprecedented” times and praises its US counterpart, the Federal Reserve, for acting to lessen the blow of the global economic slowdown. He says next week’s meeting of the Monetary Policy Committee (MPC) should conclude with a 2% base rate cut and the “end of the Mervyn King era”. Law’s remarks follow stinging criticism from MPC member David Blanchflower, who yesterday said the Bank should have realised the scale of the recession sooner. “We need a lion and not a mouse to lead us through these turbulent t...