Bank of England chief sees uneven economic growth
Quick ReadBank of England chief sees up-down path to economic growth this year
Photo credit: AP | A man walks outside the Bank of England, in London's City financial district, Tuesday, Feb. 14, 2012. Britain's AAA credit rating was put on a "negative outlook" by ratings agency Moody's Tuesday, amid fears over weaker growth prospects and potential shocks from the eurozone crisis. Britain's Chancellor George Osborne said the assessment was a vindication of the Government's tough austerity measures and "a reality check for anyone who thinks Britain can duck confronting its debts".Moody's downgraded the ratings of six countries and also put France and Austria on the same caution as the UK amid violent protests in Greece over stringent measures to secure a fresh bailout. (AP Photo/Lefteris Pitarakis)
(AP) -- Britain's economy is likely to grow slowly this year in a "zigzag" pattern of quarterly gains and setbacks -- barring a disaster in the eurozone, the governor of the Bank of England said Wednesday.
Introducing the latest quarterly Inflation Report, Mervyn King said austerity cuts at home and financial uncertainty among major trading partners in Europe are holding back growth.
The...
