Economics
Carney Hits Back on BOE Messaging After Swings in Rate-Hike Bets
- Governor says interest rates are likely to go up within a year
- Companies and households are ‘not fixated’ on precise date
This article is for subscribers only.
Mark Carney told financial markets they aren’t his only audience as he defended himself against fresh accusations of poorly communicated monetary policy.
The Bank of England governor was inundated with questions by reporters on Thursday on why the central bank resisted the hike in interest rates that it had seemed only recently to signal. Carney said what matters most is that the wider public still understands borrowing costs are headed gradually higher.