It is a pleasure to be in Scotland today and to have the opportunity to hear directly from businesses about the economy. The recovery that began in Scotland has now taken hold in the UK with the economy growing at its fastest rate since 2007. Although a few quarters of above-trend growth driven by household spending represent a good start, they aren’t sufficient. Even though employment is growing and unemployment has fallen – particularly so recently in Scotland – the recovery has some way to run before it would be appropriate to consider moving away from the emergency setting of monetary policy. The M onetary Policy ... (full story)