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Mervyn King, the former Governor of the Bank of England has told ÃÛÑ¿´«Ã½ Radio 5 live that it is impossible to say when interest rates will go up as "No-one's got a crystal ball".

"There will be a point in the next 10, 20, 30 years when interest rates will go back up and the relative wealth of the rich will come down in contrast to the wealth of those with very little assets," he said.

Lord King was speaking to 5 Live's Jonathan Overend when he stated that it would be "Impossible to judge" exactly when interest rates would go up.

Asked by 5 live's Sarah Brett if he thought interest rates would still be stagnating seven years on from his role as Governor of the Bank of England, he replied:

"No Sarah. And I remember being in Washington for the meeting of the G7 Central Bank Governors and Finance Ministers in October 2008 at the peak of the crisis and we did make a commitment to do what was necessary to save the economy by restoring the financial sector".

This clip is originally from 5 live Afternoon Edition on Tuesday 8 March 2016.

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