BOE’s Dale Says Bets for 2015 Rate Increase Are ‘Reasonable’
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Investor bets for the Bank of England’s key rate to increase next year from a record low are reasonable, Bank of England Chief Economist Spencer Dale said.
The market forecasts interest rates “remaining on hold until about the Spring of next year and then rising to around 2 percent by the end of 2016 and on that forecast, on that basis, we have a forecast in which the economy looks pretty good,” Dale said in a BBC Radio 5 interview today. “Based on what we know now, that profile for interest rates looks reasonable.”