Bank of England Governor Mervyn King says that it’s “too soon” to tighten monetary policy, amid speculation that liquidity easing measures have sparked inflationary pressures. “It is too soon to reverse the extraordinary policy stimulus that has been injected into the U.K. economy through monetary policy.” He may be correct for now. At least, in the U.S., inflation numbers released on Wednesday seemed to agree with King’s sentiment. Official consumer price estimates for May showed that inflation actually came in less than expected, at 0.1% vs 0.3%. Over the last 12 months, deflation actually got worse as consumer prices fell -1.3% with expectations seeing a -0.9% contraction in the cost of such goods.