Bank of England: 'Slow but steady recovery'

The Bank of England's Sir Mervyn King says the UK economy will see a "slow but steady recovery".

Sir Mervyn King, presenting the Bank's quarterly inflation report, 20 years after it issued its first one, said inflation "may remain above the 2% target for the next two years."

The Bank's last report in November said that inflation would fall back towards its 2% target in the second half of this year.