27 Sep 2013
BoE's Carney: Further QE not necessary
FXstreet.com (Barcelona) - Bank of England governor Mark Carney said in an interview with the Yorkshire Post that he did not consider further stimulus necessary for the UK economy, as the recovery in the country was clearly gaining momentum. The pound hit 1.6121 against the dollar following the news.
The BoE has already injected 375 billion pounds into the economy and Carney considers that sufficient in the current environment. The recovery in the UK has been supported by improvements in the Eurozone and the global economies and the best way to stimulate it further would be by boosting employment, the governor said, adding that "within the UK, we are probably leading the pack of the major advanced economies as we speak right now."
Carney has also referred to the recently introduced forward guidance by saying that “this is a policy for the UK as a whole and the point is that businesses and households understand that we are not going to look to raise interest rates until we see the economy really growing."
The BoE has already injected 375 billion pounds into the economy and Carney considers that sufficient in the current environment. The recovery in the UK has been supported by improvements in the Eurozone and the global economies and the best way to stimulate it further would be by boosting employment, the governor said, adding that "within the UK, we are probably leading the pack of the major advanced economies as we speak right now."
Carney has also referred to the recently introduced forward guidance by saying that “this is a policy for the UK as a whole and the point is that businesses and households understand that we are not going to look to raise interest rates until we see the economy really growing."