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Bank of England sees short-term hit to UK economy from floods

LONDON (Reuters) - Floods in parts of Britain will affect the short-term outlook for the country's economy but will not have an impact on monetary policy decisions, the head of the Bank of England said on Wednesday. BoE Governor Mark Carney told ITV television that transport, farming and other businesses would be hit by the flooding. "It is something that will affect the near-time outlook, but let me caveat all that because I start with the real human cost," Carney said in an interview.

Highlights: Carney speaks after Inflation Report

LONDON (Reuters) - Bank of England Governor Mark Carney and other British monetary policymakers are speaking at a news conference after the Bank published its quarterly Inflation Report. Below are comments from the news conference. CARNEY ON FORWARD GUIDANCE "Forward guidance is working: expected interest rates have remained low even as the economy has recovered strongly, uncertainty about interest rates has fallen, and most importantly, UK businesses have understood the message."

Bank of England hikes 2014 growth forecast

The Bank of England on Wednesday ramped up its 2014 British economic growth forecast, and tweaked its forward guidance on interest rates. Gross domestic product was set to grow by 3.4 percent this year, a chart in the bank's latest report showed. That was up sharply from an earlier estimate of 2.8 percent given in November.

Bank of England hikes 2014 growth forecast

The Bank of England on Wednesday ramped up its 2014 British economic growth forecast, and tweaked its forward guidance on interest rates. Gross domestic product was set to grow by 3.4 percent this year, a chart in the bank's latest report showed. That was up sharply from an earlier estimate of 2.8 percent given in November.

BoE's Carney says recovery should help productivity

NEW YORK (Reuters) - Britain's economic recovery is on its way to achieving self-sustaining momentum but monetary policy will need to remain exceptionally loose for some time to come, Bank of England Governor Mark Carney said on Monday. In a speech to the Economic Club of New York, Carney said he was confident monetary policy was gaining traction and that a 'liquidity trap' had been avoided.

Tiff Macklem moving on from Bank of Canada after losing out on top post

OTTAWA - The Bank of Canada is losing its second in command and according to analysts, one of its brightest minds. Senior deputy governor Tiff Macklem has announced he will step down on May 1 — about four years before his term expires — to become the new dean at the respected Rotman School of Management at the University of Toronto. The move was not a surprise after Macklem, 52, was passed over for the top job last spring when Finance Minister Jim Flaherty chose Stephen Poloz, then head of Export Development Canada, to succeed the outgoing governor, Mark Carney.

World according to Bank of Cda head Poloz: cloudy with chance of spaghetti sauce

OTTAWA - Not every central banker compares the economy to a simmering pot of spaghetti sauce. And when Stephen Poloz used the analogy at a luncheon in June, it left many puzzled. Five months later, there's a growing comfort with the new governor of the Bank of Canada — and with his colourful, occasionally weird use of metaphors, sometimes drawing on his favourite TV series, Star Trek.

Bank of England governor Carney strikes new, softer tone on banks

By William Schomberg and David Milliken LONDON (Reuters) - Bank of England Governor Mark Carney announced an easing of rules for banks in need of short-term cash, taking a new approach to how the central bank will work with the City of London five years after the financial crisis. In his first major speech on British financial regulation, Carney struck a softer tone towards banks than his predecessor Mervyn King but denied that he was "cheerleading" for them.

Bank of England's Carney says healthier banks helping UK recovery

LONDON (Reuters) - Bank of England Governor Mark Carney said on Thursday that a healthier banking system was aiding Britain's economic recovery. "One of the reasons to think there could be some serious sustainability, some traction, in the recovery is that the core of the financial system here has got a lot better," he said in a question and answer session after giving a speech in London. "I won't say it's fully healed, but it's got a lot better and the rebuilding of capital is a big element of that," he added.

UK housebuilders hit by Osborne, Carney comments

British housebuilders are among the top fallers on the London bourse, weighed down by the prospects of less stimulus from the Bank of England and signs that politicians are becoming concerned about the possibility of a housing bubble.
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