Recovery to take 'a number of years'

The UK's economic recovery will take a "number of years" the Bank of England's chief economist Spencer Dale has said.

Speaking to the BBC's Hugh Pym in Liverpool in the north of England, Mr Dale said that interest rates will remain low for what he termed a "sustained period".

"We had a very deep recession, we have a number of years to go" he added, though he said that the economy is moving in the right direction.

Mr Dale also said that while a close eye is being kept on house prices, he doesn't see a housing market bubble.