Hold onto to your hat!
According to the Bank of England’s new governor, Mark Carney, the recovery in the UK has finally “taken hold” and has revised his earlier figures for growth and the rate of which unemployment will fall.
This is on the back of inflation falling to 2.2% from 2.7% in September and the unemployment rate falling to 7.6% from 7.8%, bearing in mind that he has vowed to keep base rates at their current record low levels until that level reaches below 7%. Growth pushed up from 1.4% to 1.6% for this year and from 2.5% to 2.8% for next year.
This news had an almost instant impact on the value of the British Pound to other currencies.
