Midday Market Overview

Bank of England's Carney stresses no need for quick rate hike

(Reuters) - Bank of England Governor Mark Carney sought to quash growing speculation that interest rates may rise sooner than the central bank has signaled after its first attempt to steer markets was overtaken by Britain's economic turnaround.

In a speech on Friday, Carney stressed the economy was not yet strong enough to cope without stimulus.

"A few quarters of above-trend growth driven by household spending represent a good start, but they aren't sufficient," Carney told business executives on the sidelines of the World Economic Forum in Davos, Switzerland.

End-of-day Market Overview

Hope you all have a great weekend!

G.