January 12, 2016 / 3:33 PM / 4 years ago

Britain's economic recovery is not based on debt-BoE's Carney

PARIS, Jan 12 (Reuters) - Bank of England chief Mark Carney said on Tuesday Britain’s recovery was not reliant on debt accumulation, even though household debt was relatively high.

Speaking at a conference of central bankers in Paris, he reiterated that there was no new wave of hefty extra capital requirements for banks in the pipeline.

“Basel IV is an ugly rumour out there,” said Carney, referencing the Basel III bank capital reforms rushed through after the 2007-09 financial crisis. “There is no Basel IV.” (Reporting by William Schomberg; Writing by Ana Nicolaci da Costa, editing by Andy Bruce)

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