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Carney clarifies bank guidance

The Bank of England Governor attempted to shore up his "forward guidance" policy amid signs it is not having the desired effect. During his first regional speech in Nottingham, Mark Carney also compared the UK's productivity to singer Jake Bugg.

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Mark Carney compares UK productivity to Jake Bugg

The Bank of England Governor Mark Carney has compared the UK's productivity to singer Jake Bugg during his first regional speech in Nottingham.

Carney said: "The UK is no more productive than it was back in 2005 - before Jake Bugg got his first guitar and since then...he's had a number one record and a string of very successful gigs. He's become a lot more productive".

The musician, who is from Nottingham, released his self-titled debut album last year which went to number one in the charts and he was nominated for a 2013 Brit Award.

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