U.K. interest rates stagnant, says Carney

Bank of England Governor Mark Carney says the U.K. interest rate won’t rise until the recovery in Britain has been sustained, reports Bloomberg’s BusinessWeek.com.

In a speech in New York today, the outlet adds, Carney stated global economies are far from normal. He’ll be looking for credit conditions to improve and for monetary policy to gain traction before moving rates in the U.K. Read more.

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