UK economy won't grow until middle of 2010: BoE

It had earlier indicated the recovery may start at the end of this year but in its latest quarterly inflation report, governor Mervyn King said any turnaround is likely to be slow and protracted. "There are pretty solid reasons for supposing that there will be a recovery next year, but also pretty solid reasons for questioning if that will be sustained," King says. However, he says there are some reasons for optimism and the pace of economic decline had moderated. Government plans to stimulate the economy and the weak pound will also help although he says problems in the banking sector ha...