Mervyn King must hold his nerve | Larry Elliott



Since the election, the Treasury and the Bank of England have had their own version of good cop, bad cop. George Osborne has played the hard man, raising taxes and putting the squeeze on public spending; Mervyn King has been Mr Nice Guy, providing oodles of cheap money by keeping official interest rates at 0.5%.
It would be quite wrong to say that there has been anything quite so squalid as a deal, either official or unofficial, because that's not the British way. But there is certainly an expectation among both Conservative and Liberal Democrat members of the coalition that Osborne's... read more

 
13 January 2011 in Business, Views: 3
Source: Guardian
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