Mervyn King says pound has fallen far enough / recovery in sight

ENGLAND: West Midlands: EXT General view of metal recycling plant (scrapyard) with barge along canal in foreground Mervyn King (Bank of England Governor) out of car and greeted at doorway of factory (company where he began his career as an economist) INT Various of Mervyn King chatting with workers on factory floor of manufacturing company (making suspension units / shock absorbers for cars?) Robot on factory floor production line Workers on production line Sir Mervyn King interview SOT - (has he softened his stance on inflation?) no, what we said was that if there are specific factors that push up inflatin that have nothing to do with the state of the economy then we wouldn't unecessarily raise interest rates, raise unemployment as a result, merely to deal for example with the rise in student tuition fees/ it's those factors that relate to administered prices, that have nothing to do with the state of the economy, that we're prepared to look through for a relatively short period/ we are determined to bring inflatin back to the target/ confident that over the next few years the Monetary Policy Committee will pursue the policies needed to achieve just that - (re recent fall of Pound) the markets determine the level of the exchange rate, not us/ we're at the same level we were after the impact of the financial crisis/ we are moving to a properly valued exchange rate, I think we're probably there/ exchange rate is broadly stable - we are certainly not looking to push Sterling down Various of pieces of machines (producing car parts?) on production line Mervy King interview (as wlkaing along factory floor with reporter) SOT - the ability of the UK to rebalance its economy by exporting is going well Worker on shop floor working at milling machine (?) Workers on factory floor handling unidentified machine parts Sir Mervyn King interview SOT - (unheard questin re advice on forthcoming Budget) talked privately with Chancellior and Prime M...