The head of the International Monetary Fund has urged countries to ease back on cuts because of the impact on growth. It has previously warned the global economic recovery was weakening as government policies have failed to restore confidence.
An overview of the International Monetary Fund's World Economic Outlook projections, as it downgrades its estimate for global growth for this year to 3.3%.
Sir Mervyn King will concede there might be occasions when the Bank of England should 'aim off' the 2% inflation target.
It is the kind of message we have heard from the IMF before - think about having a Plan B ready, but don't press the button yet.