Bank of England and Treasury must act decisively to head off a recession
Central bankers stepped up efforts to pump funds into the global financial system today as Mervyn King, the Governor of the Bank of England, met heads of the UK's five biggest banks following days of stock market turmoil and rumours of market manipulation by short-sellers. Liberal Democrat leader Nick Clegg urged the Bank of England and the Treasury to act decisively to head off a recession, in a statement he said: