Bank of England: Sir Mervyn King interview

Bank of England: Sir Mervyn King interview; ENGLAND: London: Bank of England: INT Q: About Quantitative Easing Working Now Sir Mervyn King (Governor of the Bank of England) interview SOT - It would have been worse it didn't take the action we did in 2009 / - We have created new money / - It will spent by people selling Govt Bonds to us / - The money will seep around different parts of the economy / - This has been done to support the British economy / Q: About Guaranteeing money Goes To The Right Places Mervyn King SOT - It will affect the yields / - will affect wealth of pension funds / - It will effect their spending / - It did work before / - The world economy can change / Q: About How He Can Be Certain It Will Make A Difference Mervyn King SOT - What I do know is that taking this measure will make it better than it would have been / - it will improve position of UK economy Q: About Differences People Will Notice Mervyn King SOT - Concern that the UK economy will slow sharply will not materialise and economy will continue to recover - taken this pre-emptively Q: About Preventing A Double Dip Mervyn King SOT - I don't what would have happened / - There is no doubt conditions in the world economy have changed / - American economy is slowing, Chinese economy is slowing, Europe has also slowed sharply / - This is a major crisis and we are taking steps to make it less severe Q: About Making A Difference Mervyn King SOT - It will make a difference and it is the right thing to do / - we can take right steps for UK economy and that's what we've done today