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BoE Governor issues recession warning

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10-22-2008, 10:47 AM

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BoE Governor issues recession warning

The Bank of England’s Governor, Mervyn King, has issued a stark warning that the UK economy is on the verge of a prolonged recession. Mr King added that he is concerned about rising unemployment and tumbling house prices. Following his announcement, the pound plummeted to a five-year low against the dollar to $1.6331. Meanwhile, the euro [...]

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« Confidence of British manufacturers plummets to 28-year low | Economy slows, shares plummet as recession looms »

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