Carney indicates low interest rates in U.K.

“Bank of England governor Mark Carney says the British economy has begun heading back to normal but interest rates may remain low ‘for some time,'” a CBC news article wrote earlier in the week. The article continued, “The U.K. central bank released a report on the economy that shows an improved outlook for unemployment and inflation and remaining optimism on GDP growth, compared to earlier this year. The bank believes the British economy will grow 3.4 per cent this year and has upgraded its forecast for next year to 2.9 per cent. The unemployment rate is at its lowest level in five years – 6.8 per cent – but Carney, a former governor of the Bank of Canada, noted there is still ‘slack’ in the labour market, including 1.4 million people working part-time.” Read the full article here.

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