ITV News Economics Editor Richard Edgar is listening to the Bank of England Governor Mark Carney at the World Economic Forum in Davos:
Mark Carney speaking in Davos says the Bank of England will decide how to "evolve" forward guidance next month. #WEF14
Carney says "the degree of stimulus will remain exceptional for some time" so low interest rates until the economy reaches "escape velocity"
Bank of England Governor Mark Carney hasn’t quite abandoned forward guidance although, he has said it’s going to have to “evolve”.
The Bank of England Governor has stepped in to try to reassure borrowers that interest rates will stay at very low levels for "some time”.