http://www.purefx.co.uk View the latest news entries below. For archived news articles or to view all news items, please visit our website. en-gb Copyright 2010, PureFX Fri, 30 Jul 2010 10:24:58 GMT 20 http://www.purefx.co.uk/graphics/elements/rsslogo.gif http://www.purefx.co.uk NEW DELHI (Reuters) - Chancellor George Osborne on Thursday said there was no tacit agreement with the Bank of England's governor Mervyn King on keeping interest rates low. Chancellor of the Exchequer George Osborne poses with a bronze replica of a bull during his visit to the Bombay Stock Exchange (BSE) building in Mumbai July 28, 2010. "There is no tacit agreement at all. He is absolutely independent, as is his (Monetary George Osborne, arrives to speak at a news conference at the Treasury, in London July 20, 2010. Credit: Reuters/Anthony Devlin/Pool/Files Thu Jul 29, 2010 11:03am IST (Adds quotes, background) "There is no tacit agreement at all. He is absolutely Comments Mervyn King conceded to a panel of MPs that the Bank was unlikely to meet its 2pc inflation target for the foreseeable future and there was no guarantee that economic recovery could be sustained. UK prices have consistently remained above the Filed under: Company , Debt , Economy , Budget 2010 , Banking , Creative industries Bank of England governor Mervyn King says he's more concerned about the strength of the recovery than keeping inflation low. There's also been another nod to keeping Interest rates will have to be kept at record low levels while Britain's economic recovery still hangs in the balance, Bank of England governor Mervyn King warned. Warning: Mervyn King says rates will stay low for another four years WANT TO KNOW MORE? The average price of a UK property fell by 0.5% to £169,347 between the months of June and July, according to the Nationwide Building Society. Householder numbers dropped due to concerns about chancellor George Osborne's spending cuts. Nationwide said The UK’s relatively high levels of inflation could help economic recovery, according to James Penn, an analyst at Thomas Miller Investment. Writing in the latest edition of Thomas Miller Investment’s quarterly Investment Newsletter, James Penn, Economists have forecast that prices may fall a further 20 per cent should confidence in the market not pick up. Average values fell 0.5 per cent in July, lowering the annual rate of decline to 6.6 per cent from 8.7 per cent the previous month, so the by Chris Alexander, head of investment strategy, BNP Paribas Wealth Management The Fed Beige Book provided a more mixed assessment of the US economy in the regions - perhaps best described as more 'sluggish growth'. The comment is in line with our view