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Mervyn King confirms signs of 'recession recovery'

15th September 2009

Governor of the Bank of England Mervyn King has confirmed that there are signs the UK economy is on the road to recovery.

Speaking at a Treasury Select Committee hearing, the governor also warned that inflation is set to be volatile over the next year, with the strength of recovery remaining 'highly uncertain'.

He said: 'Following a precipitate fall in economic activity at the end of last year and the start of this, there are now signs that growth has resumed in the third quarter.'

Mr King was appearing before the committee to discuss the quarterly inflation report compiled by the Monetary Policy Committee (MPC).

The report is intended to provide a framework for discussion and to enhance transparency and understanding surrounding the Bank and MPC's decisions.

Britain's emergence from the recession, when it arrives, will follow turnarounds in both the French and German economies announced last month.

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