King for a Few More Days

THE WEEK: Morningstar columnist Rodney Hobson discusses Sir Mervyn King's latest inflation expectations and Europe's economic progress (or lack thereof)

Rodney Hobson 15 February, 2013 | 11:17AM

A few economic truths hit home this week, none of them pleasant. Yet the stock market has held up remarkably well at levels last seen in 2008 when the dam burst. The nascent bear rally of 2013 remains intact despite everything.

King has been pretty blunt for the occupant of a post that tries not to take political sides

One truth I never thought I would hear was the admission by the outgoing Bank of England governor Sir Mervyn King that inflation will persist above the 2% central target. King actually suggested a three year time span in sharp contrast to the rapid decline he has promised on so many occasions over the past four years.

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About Author

Rodney Hobson

Rodney Hobson  is a columnist for Morningstar.co.uk and author of several investing books, including The Dividend Investor and How to Build a Share Portfolio.

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