Bank of England says the recovery has taken hold
During a press conference to discuss the Bank of England's latest Quarterly Inflation Report, Governor Mark Carney said that the UK recovery has finally taken hold.
Mr Carney told the conference that inflation is as low as it's been since 2009 and jobs are being created at a rate of 60,000 a month. He also said that the economy is growing at its fastest pace for six years, although the return to growth is not yet a return to normality.
Nearly one million more people are out of work than in the years before the financial crisis and many others would like full time work.
When asked about an increase to the interest rates, Mr Carney said: "We don't make policy at the Bank of England for inside the Circle Line, we make policy for the entire United Kingdom, and we react accordingly."
November 15, 2013
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