King: UK economy faces stagnation
Britain's economy could stagnate until the middle of next year, according to the Governor of the Bank of England Sir Mervyn King.
The Bank has now cut its growth forecast for this year and next to about 1%, saying the global economic outlook had "worsened".
Sir Mervyn did say that inflation is likely to have reached its peak.
The BBC's Stephanie Flanders reports.
16 Nov 2011
- From the section Business