Bank of England's Tucker sees reason for hope on UK economy

LONDON Wed May 1, 2013 8:54am BST

A still image taken from video shows Bank of England's deputy governor, Paul Tucker, appearing before a parliamentary committee in London July 9, 2012. REUTERS/UK Parliament TV via Reuters TV

A still image taken from video shows Bank of England's deputy governor, Paul Tucker, appearing before a parliamentary committee in London July 9, 2012.

Credit: Reuters/UK Parliament TV via Reuters TV

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LONDON (Reuters) - First-quarter economic output data suggests Britain's economy may be healthier than previous figures suggested, Bank of England deputy governor Paul Tucker said in a newspaper article published on Wednesday.

"We shouldn't get too excited by one quarter but looking over the past year it's perhaps not as bad as the headline figures suggest," Tucker told the Journal, a newspaper in Newcastle, northeast England, where he was visiting local businesses.

"I think there's a long way to go but there's certainly reason for hope," he added.

Tucker said that an extended version of the Funding for Lending Scheme announced last week was not a "silver bullet", but should show more effect on lending in six months.

He also said that negative interest rates - an idea he floated in February as something to debate - were "most unlikely" to happen.

(Reporting by David Milliken)

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