It was all too predictable that the Governor of the Bank of England would once again be forced to revise his forecast for economic growth downwards.
A year ago Sir Mervyn King predicted a 2% increase in GDP; three months ago that was reduced to 0.8%; yesterday he foresaw no growth for 2012. The conundrum is where, despite the UK now mired in the longest double-dip recession since records began, he has found the evidence for his claim that the economy is healing.
Please enable cookies in your browser to display the rest of this article.