By Claire West

Commenting on Mark Carney’s speech to business leaders today in Nottingham, hosted by the Institute of Directors East Midlands and other business groups, Simon Walker, Director General of the IoD, said:

"The Governor's speech was detailed, measured and, most of all, it was reassuring.

"Businesses will take comfort from his commitment to low interest rates and his confidence in the nature of the economic recovery.

"We welcome the decision to help healthy banks increase the supply of credit. Lending to businesses remains essential as the economic recovery continues.

"We share the Governor's cautious optimism about the strength of the recovery, but he is also right to warn that growth will not miraculously translate into falling unemployment. Tackling this issue will take time, but our members will be relieved that rates will remain low while efforts to create jobs continue."