Bank of England governor Mark Carney upbeat on UK growth

The Bank of England governor has said that he now has more confidence in the UK economy, in a speech which is likely to stoke expectations of an interest rate rise in August.

Mark Carney said recent data had given him “greater confidence” that weak first-quarter growth “was largely due to the weather”.

He said that household spending and sentiment have “bounced back strongly”.

However, he also warned that a global trade war could dampen economic growth.