BoE's Carney - exceptional stimulus remains very relevant

DAVOS, Switzerland Sat Jan 25, 2014 9:06am EST

DAVOS, Switzerland Jan 25 (Reuters) - Exceptional policy stimulus remains very relevant for the British economy and even when the central bank raises interest rates it will do so gradually, Bank of England Governor Mark Carney said on Saturday.

"I am not signalling an exit of UK monetary policy here just to be clear," he told the World Economic Forum in Davos.

"I have already given some additional guidance on monetary policy and said there is no immediate need to raise interest rates. Even when that point comes which could be, well I won't put a timeline, the increase would be gradual."

Highlighting the challenges facing the British economy, he added: "In that environment exceptional stimulus remains very relevant."

FILED UNDER:
A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article