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Financial News: BoE Likely To Upgrade Growth Forecast, Says Carney

BoE Likely To Upgrade Growth Forecast, Says Carney

01/12/2017 - 03:35:00 (RTTNews)

(RTTNews) - Bank of England Governor Mark Carney said the recent data is consistent with some further upgrade of growth forecast.

But the process has not started yet, he told lawmakers on Thursday.

In November, the bank had raised its growth outlook for 2017 to 1.4 percent and next year projection to 1.5 percent.

Further, Carney said the 'Brexit' vote is no longer the biggest risk to financial stability. However, he observed greater risks to other EU nations from the Brexit.

At the hearing, Carney told lawmakers that it is highly advisable to have a transitional phase for the financial sector.

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