BoE's Carney - exceptional stimulus remains very relevant
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."
- Malaysia Airlines plane missing, presumed crashed in South China Sea |
- China draws 'red line' on North Korea, says won't allow war on peninsula
- Malaysian plane crashed off Vietnam coast: state media
- No signal picked up from missing Malaysia Airlines plane-Vietnam official