Wednesday, June 18, 2008
The Governor of the Bank of England has issued a grim warning over Britain’s financial future
The Governor of the Bank of England has issued a grim warning over Britain's financial future.Speaking at the Lord Mayor's dinner to the bankers and merchants, Mervyn King said the country faces its biggest economic challenge in two decades. He said consumers could expect sharp rises in gas and electricity prices - and a steep fall in purchasing power with no pay rises likely. Mr King warned that families could expect to bear the brunt of the slowdown.