'BoE helping strong, sustainable and balanced growth'

A "renewed recovery is taking hold" in the UK economy, but its pace will be "more measured than rapid", Bank of England governor Mark Carney has said.

Mr Carney told business leaders in Nottingham that the Bank was "removing uncertainty" with its guidance that interest rates would stay low until unemployment had declined.

"We can't control all these events, instead we're focused on doing what we cant to reduce uncertainty and build resilience so that the recovery can be sustained despite those inevitable shocks ahead," he said.

"In these ways, the Bank of England is helping the British economy over the threshold and into strong, sustainable and balanced growth."