BASEL (AFX) - Eddie George, the governor of the Bank of England who is currently chairman of the Bank for International Settlements, said the world economy should recover in the second half of the year, but cautioned it was "too soon to cry victory" regarding the U.S. economy. George said growth in the EU is expected to continue this year at a rate of about 3.0 pct after growth of 3.4 pct in 2000.
However George cautioned that the world economy faces a bumpy landing in the first half of this year, adding that the Japanese economy would continue to grow at a "very moderate" rate.
The latest indicators on the state of the U.S. economy were "better than had been expected" in January, but it was "too soon to cry victory" on the economic situation, George said.