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...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
