Carney Renews BOE Low-Rate Pledge to Fight Slack

Bank of England Governor Mark Carney underscored his pledge to keep interest rates at a record low in a recasting of forward guidance to combat persisting slack in the British economy.

“The first phase of guidance gave businesses confidence that bank rate would not be raised at least until jobs, incomes and spending were growing at sustainable rates,” Carney said in London as he published the central bank’s quarterly Inflation Report. “As guidance evolves, that remains the case: the Monetary Policy Committee will not take risks with the recovery.”