BoE's Carney says shift to fully-transaction based reference rates for financial contracts was "necessary and, over time, would happen"
Says libor controls now much tighter, but libor use to underpin $350 trillion of contracts "not desirable"
- Euro Area trade balance surplus declined significantly in August
- Consumer prices in China were up 1.6 percent on year in September,
- US consumer sentiment surged in early October, reaching its highest level since the start of 2004 says UoM
- Earnings Season in U.S.: Major Reports of the Week