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"
- The eurozone started the third quarter on a solid footing, according to PMI survey data
- Earnings Season in U.S.: Major Reports of the Week
- German private sector output growth slowed for the second month running in July
- ECB's Mersch says as conditions normalise, it is unlikely that uncoventional policies will remain necessary