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19 Feb 2014
BoE's Fisher satisfied with the pace of UK recovery
The Bank of England markets director Paul Fischer said today in an interview for BBC Radio 4 that the economic recovery in the UK was progressing quite quickly, although the output level remained below standard limits.
He expressed satisfaction with the UK jobs numbers, released earlier today, suggesting that they confirm a general trend of declining unemployment in the country.
When asked about a possibility of a housing bubble forming in the UK he stated that he saw the level of transactions as normal and that the prices were below the peak.
On the possibility of an interest rate hike Fisher commented that "there has been no push for that on the committee at all."
"We're very open and transparent about dissent on the committee and if there was any indication that people wanted to put rates up, you would see that both in the minutes and in public comments," he stressed.
The BoE Minutes from the last MPC monetary policy meeting released today revealed that the Committee voted unanimously in favor of maintaining the interest rate at 0.5% and the stock of asset purchases at £375 billion.
He expressed satisfaction with the UK jobs numbers, released earlier today, suggesting that they confirm a general trend of declining unemployment in the country.
When asked about a possibility of a housing bubble forming in the UK he stated that he saw the level of transactions as normal and that the prices were below the peak.
On the possibility of an interest rate hike Fisher commented that "there has been no push for that on the committee at all."
"We're very open and transparent about dissent on the committee and if there was any indication that people wanted to put rates up, you would see that both in the minutes and in public comments," he stressed.
The BoE Minutes from the last MPC monetary policy meeting released today revealed that the Committee voted unanimously in favor of maintaining the interest rate at 0.5% and the stock of asset purchases at £375 billion.