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"There is a welcome change in the economic outlook," outgoing Bank of England Governor Mervyn...

"There is a welcome change in the economic outlook," outgoing Bank of England Governor Mervyn King says, in his last quarterly Inflation Report before he retires in July. King proclaimed that although the recession "hasn't been typical," a recovery in the U.K. is "in sight," as the British economy should grow by 0.5% in Q2, up from 0.3% in Q1. Meanwhile, inflation is seen peaking at 3.1% in Q3. The comments underscore the BOE's recent decision to keep rates and QE on hold.
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