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22:27, 20-Jun-2017
Bank of England Governor Carney: Now not the time to raise interest rates
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The Bank of England Governor Mark Carney said Tuesday that now is not the time to raise interest rates.
Carney also warned that weak wage growth risked a further loss of momentum as Britain prepares to leave the European Union.
Meanwhile, he underlined the importance of free trade especially in financial services and said that the EU would face greater costs if it tried to remove activities from London.
The comment came a day after Brexit negotiation's official start and it dashed the prospect that he would vote to raise rates. The Pound plunged after Carney's remarks.
Analysts say uncertain outcome of the Brexit talks is expected to weigh on consumers and companies.