BOE’s Broadbent Says Path of Rates to Be ‘Materially Different’
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Bank of England Deputy Governor Ben Broadbent said the path of U.K. interest rates is going to be “materially different” than in the past.
Echoing Governor Mark Carney’s point that any increase in the U.K. benchmark from 0.5 percent will be gradual, Broadbent told fellow central bankers in Jackson Hole, Wyoming, that “the path of interest rates that’s necessary to meet our mandate is going to be materially different than it has in the past.”