08 Aug 2013

Carney central bank england

The Bank of England said Wednesday it would not raise interest rates until U.K. unemployment falls to 7%, a level it doesn’t expect to see for about three years.

Issuing detailed “forward guidance” on monetary policy for the first time under new Governor Mark Carney, the central bank said it wanted to avoid a premature rise in market rates of interest — the cost of borrowing for businesses and consumers.

That would risk choking off the recovery in the world’s sixth biggest economy, which has accelerated in recent weeks.

As excerpt from an article written by Mark Thompson of CNNMoney (London).

Please follow and like us:

Post a comment