BoE's King warns against further rate cut

King's comments come as the Bank cut its forecast for economic growth this year to almost zero and predicted inflation would be below target in the medium term. In its quarterly inflation report, released today, the Bank said it expects to see no growth in the economy for 2012, down from the 0.8% predicted in the May report. Economists suggested the latest predictions opened the door to further stimulus or a possible rate cut. But, without completely ruling out the possibility of cutting rates in the coming months, King said another quarter point cut was "neither here nor there". ...