Aug. 28 - In his first public speech as Governor of the Bank of England, Mark Carney said more money may be pumped into Britain's economy if the markets threaten recovery. Rough Cut (no reporter narration)
ROUGH CUT (NO REPORTER NARRATION) The Bank of England may pump more money into Britain's economy if financial markets get ahead of themselves and threaten to choke off its recovery. That was the message from Mark Carney, in his first major speech since taking over as the bank's governor. He also said the UK's recovery was broad-based and looked set to continue, as he announced moves to ease capital controls on big banks. But he stressed that unemployment would not fall quickly to the level at which the central bank would consider raising interest rates under its new forward-guidance plan announced earlier this month. Financial markets have priced in a BoE rate hike in mid-2015, much sooner than suggested by the central bank's forecast that unemployment is only likely to reach its threshold level of 7 percent in late 2016, down from 7.8 percent now.