Carney says UK's 3% growth is not ‘escape velocity'
BoE governor signals rates are likely to remain low for another year
The "exact timing" of a Bank of England (BoE) interest rate hike will depend on the evolution of the UK economy, governor Mark Carney has said, signalling that an increase in the first quarter of 2015 – as currently priced in by markets – remains unlikely as slack in the labour market is expected to dissipate only slowly.
Speaking at the release of the BoE's quarterly inflation report today, Carney said the economy "has only just begun to head back towards normal" and that spare capacity still
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