Carney warns over borrowing 'risks'

Press Association
Bank of England Governor Mark Carney, speaks to the audience after delivering his speech
Bank of England Governor Mark Carney, speaks to the audience after delivering his speech

%VIRTUAL-SkimlinksPromo%Bank of England governor Mark Carney warned the economy faced renewed dangers from excessive borrowing as he outlined a shake-up that consolidates the Bank's broader responsibilities including financial stability.

Mr Carney admitted low interest rates meant the UK was facing "similar risks" to those behind the crisis that emerged in 2008 - as households and businesses feel encouraged to borrow to excess.