'2 in 5 chance' of meeting jobless threshold by 2014 end

"The unemployment rate has fallen a little more than expected in August," Bank of England governor Mark Carney said, "and that is to be welcomed."

He said there was a "2 in 5 chance" of the unemployment rate reaching the 7% threshold by the end of next year.

At that point, the Bank of England Monetary Police Committee will consider changes to quantitative easing and interest rates.