Bank of England Governor Mark Carney has promised to keep interest rates lower for longer, ahead of the release of UK GDP growth data for the third quarter.
Speaking at a Financial Times event, Carney (pictured) said he will not rush to raise interest rates or withdraw emergency support for banks and businesses. His comments come prior to the release of the first estimate Q3 data by the Office for National Statistics today. The data is expected to show the UK economy grew 0.8% in the third quarter, indicating the recovery is definitely underway. “The recovery has begun, it is strengthening. But we are not going to withdraw monetary stimulus until it has gained that traction,” Carney reportedly said. The Governor also outlined an easing...
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