Carney sounds note of caution on UK recovery

Mark Carney yesterday declared the British economy is picking up but warned the recovery may prove to be another ‘false dawn'.

The Governor of the Bank of England was in an upbeat mood as he hailed a set of ‘very strong data' since he succeeded Lord King on Threadneedle Street in July, the Daily Mail reports. But he also sounded a note of caution and said "it is early days" and the Bank stands ready to act to stimulate growth "if the recovery were to falter". His comments were echoed by Lord Wolfson, chief executive of fashion chain Next, who said households are finally getting to grips with their debts and starting to splash out. But the Tory peer, an advisor to David Cameron, added a "full-blown recovery...