month low as the deepening economic slump sapped corporate profit. Bank of England Governor Mervyn King said today a British recession is likely. The Bank of England’s head, Mervyn King, recently said the UK economy is probably entering its first recession in 16 years. curve short sterling contracts they've dropped in yield terms. Mr Brown has echoed similar warnings from the Bank of England governor, Mervyn King, and a key think tank. Ian Stannard, a currency analyst at BNP Paribas, said: "It's the first time that Mervyn King has talked about recession.
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