Some UK economic data not good enough - Bank of England's Carney

Tue Nov 26, 2013 6:39am EST
 
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LONDON Nov 26 (Reuters) - Bank of England Governor Mark Carney cast doubt on the reliability of some of Britain's economic data on Tuesday, saying he was much more comfortable with official statistics in his native Canada.

Carney told lawmakers that he and fellow policymakers were wary about official measures of investment in Britain.

"We're not putting full weight on that data and it has to be said that it doesn't entirely feel right that investment is, as measured, falling at a time when we see continued strengthening investment intention," Carney said.

He also said "a lot of work" needed to be done to raise Britain's flow of funds data - which help measure debt levels across the economy - to international standards.

"I was much more comfortable with the data in Canada," said Carney who was governor of the Bank of Canada before taking over the British central bank in July.