News Headline Summary

BoE's Miles says UK growth may be becoming self-sustaining, but recovery still embryonic

Says:
- Stronger growth main reason for dropping call for more QE.
- Too early to judge market reaction to Fed, UK yield curve not tied to US.
- Markets may be proved right on faster jobless fall, but perhaps underestimate productivity rebound.
- Credit conditions for small businesses starting to thaw.
- BoE hasn't ruled out restarting QE if needed.

Update details:

- Miles is known to have a dovish stance.

Reaction details:

- No immediate reaction across UK asset classes to these comments.

Print 14:47, 19 Sep 2013 - BoE - Source: Newswires