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King: No Bank remit change

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.

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King warns against 'major change' to Bank's remit

The outgoing Governor of the Bank of England, Sir Mervyn King, has told ITV News that no major change is needed to the Bank's inflation remit when he is succeeded by Mark Carney.

He also describes the financial pressures placed on households and small businesses during periods of high inflation.

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