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Carney: House of Commons Standing Committee on Finance Opening Statement
Good afternoon. Tiff and I are pleased to be here with you today to discuss the April Monetary Policy Report, which the Bank published last week. The profile for global economic growth has improved since the Bank released its January MPR. Europe is expected to emerge slowly from recession in the second half of 2012, although the risks around this outlook remain high. The profile for U.S. growth is slightly stronger. This reflects the balance of somewhat improved labour markets, financial conditions and confidence on the one hand, and emerging fiscal consolidation and ongoing household deleveraging on the other. ... (full story)