In full: Former BoE Governor warns of a "very unpleasant period" ahead

Former Bank of England Governor Mervyn King blames central banks for fuelling the cost of living crisis by printing too much money during the pandemic.

King headed Britain's central bank from 2003 to 2013, and oversaw the start of its QE programme in March 2009 during the global financial crisis.

But in more recent years he has criticised the scale of central bank asset purchases, which were funded by newly-created money.

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