The British economic recovery is "broad based and set to continue," new Bank of England governor Mark Carney said Wednesday, in his first public speech since taking on the job in July. However, the pace was "likely to be measured rather than rapid" and there would still be "bumps in the road ahead," he told business leaders in the Midlands city of Nottingham. He also reiterated reassurances that interest rates will stay low until the unemployment rate - currently at 7.8 per cent - has fallen to 7 per cent, as he defended his policy of "forward guidance. " "Rates won't go up until jobs and incomes are really growing," he said, according to dpa. The policy of forward guidance - giving markets explicit statements about the bank's future moves - was not well received when it was announced in August. Caveats in the guidance had the opposite effect, actually leading investors to bring forward their expectations of a rise in interest rates. -- SPA 21:35 LOCAL TIME 18:35 GMT تغريد
