SPEECH - In the speech Sir Edward said that the timing of any rise in interest rates would depend on the strength of the global recovery. He described himself as "reasonably optimistic" about the prospects of an improvement later in the year, but said the signs of bottoming-out in the US and eurozone economies were "tentative". He struck perhaps a slightly more cautious note on the US economy than US central bankers have done in speeches in recent days.

Speech by the Governor of the Bank of