Page last updated at 12:36 GMT, Wednesday, 13 May 2009 13:36 UK

King warns of 'slow' economic recovery

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The Governor of the Bank of England, Mervyn King, says that the recession has been deeper than expected and warns that the timing and strength of recovery is "highly uncertain".

He said the economy would eventually heal but that the process may be slow. The Bank forecasts that the economy will shrink by around 4.5% at its lowest point this year, before starting to recover.

Richard Scott reports.

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