Bank of England Governor Andrew Bailey said on Wednesday that the conflict in the Middle East to date had not harmed Britain's economy as he feared it might.

"From an economic point of view - if you take the oil price, which is an obvious place to look - it hasn't actually had the effect that I sort of feared it might," Bailey told lawmakers in parliament at a Treasury Committee hearing.

"But obviously, it remains a very uncertain place." (Reporting by David Milliken and UK bureau, writing by Andy Bruce Editing by William Schomberg)