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"
- U.S building permits and housing starts rose more than expected in January
- Chicago Business Barometer rose to 67.6 in December, up from 63.9
- U.S import and export prices rose more than expected in January
- Canadian manufacturing sales declined 0.3% to $55.5 billion in December