Skip to content
Subscriber Only
Markets
Economics

Carney Says More BOE Rate Hikes Ahead, Stays Vague on Timing

  • Governor says its unlikely markets will get clearer signal
  • U.K. wage growth may finally be taking hold, Haldane says
Video player cover image
"We don’t commit to a precise path of interest rate at each decision," Carney said on Wednesday. (Source: Bloomberg)
Updated on

Mark Carney said the U.K. is headed for higher interest rates, but policy makers are reluctant to give clearer guidance on the timing of any future increase.

In testimony to Parliament’s Treasury Committee Wednesday, the Bank of England governor stuck to the script from the Inflation Report released earlier this month, reiterating that the Monetary Policy Committee considers that rates will need to rise somewhat earlier and to a somewhat greater extent than previously anticipated.