King Confronts Triple-Dip Risk as Snow Freezes U.K.
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Britain’s cold snap and its echoes of previous winter disruption risk leaving Bank of England Governor Mervyn King with the danger of a triple-dip recession just as he counts down his final months in office.
Heavy snow affecting most of the country threatens to hurt retail sales and construction after a contraction forecast by economists for the last three months of 2012. King, due to be replaced by Bank of Canada Governor Mark Carney in July, may provide details of his outlook when he delivers his first speech of 2013 to business executives in Belfast this evening.