Economics
Bailey Says Market Rate Rise Reflects Optimism in U.K.
- Policy makers elsewhere have expressed concern about yields
- Economic outlook rests on Britons’ use of savings, the virus
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Bank of England Governor Andrew Bailey said an increase in interest rates in financial markets reflects optimism that the U.K. economy will bounce back shortly.
The remarks sidestep the concern that policy makers in continental Europe and parts of Asia have expressed about rising bond yields as a threat to a recovery. It suggests the BOE’s Monetary Policy Committee will maintain its current pace of stimulus when officials announce their next decision on Thursday.