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

"We don’t commit to a precise path of interest rate at each decision," Carney said on Wednesday. (Source: Bloomberg)

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By David Goodman

February 21, 2018 at 3:04 PM UTC

Updated on

February 21, 2018 at 4:50 PM UTC

This article is for subscribers only.

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.