Sir Mervyn King: No need to change Bank's remit

Sir Mervyn King has said he has seen "signs of a recovery" for the economy. Credit: ITV News

The Bank of England's remit should not change to include anything other than the 2% target of inflation, the outgoing Governor Sir Mervyn King has told ITV News.

In the second of two exclusive interviews with Sir Mervyn, he said: "I'm not sure that there is any call for a major change in the remit."

He added: "What‘s most important is that we commit ourselves again to a very clear target for inflation of 2%."