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Mark Carney: UK economic recovery measured, not rapid

28 August 2013 Last updated at 19:26 BST

A "renewed recovery is taking hold" in the UK economy, but its pace will be "more measured than rapid", Bank of England governor Mark Carney has said.

Mr Carney said the Bank was "removing uncertainty" with its guidance that interest rates would stay low until the unemployment rate had declined to 7%.

But he said it could take some time for joblessness to fall that far.

Stephanie Flanders, reports.