King hints at more QE ahead of Spending Review

Scott Sinclair
clock

Bank of England governor Mervyn King last night warned of an unpleasant, "sober" decade ahead and hinted at further QE ahead of today's government Spending Review.

Speaking to an audience in the West Midlands, King said the next decade would be one of "savings, orderly budgets, and equitable re-balancing" and would "not be nice". He also warned countries to guard against trade protectionism to avoid consequences similar to the collapse of the global economy in the 1930s. King said the re-balancing of the economy would take some time. "The next decade will not be nice," he said. "History suggests that after a financial crisis the hangover lasts for a while." He said it may be some time before inflation returns to its 2% target and raised ho...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

WhatsApp for client communications gets tick of approval

WhatsApp for client communications gets tick of approval

'Easier to confirm meetings via WhatsApp than calling'

Sahar Nazir
clock 07 May 2024 • 1 min read
PA Asks: Do you think it is worth it for advisers to be Chartered?

PA Asks: Do you think it is worth it for advisers to be Chartered?

This week’s poll also looks at new clients and Consumer Duty

Professional Adviser
clock 07 May 2024 • 1 min read
Feel Good Friday: Brooks Macdonald gives sports wellbeing advice

Feel Good Friday: Brooks Macdonald gives sports wellbeing advice

Wealth manager has partnered with charity Sporting Wellness

Professional Adviser
clock 03 May 2024 • 1 min read