BOE Boss Says Minimum Bar for Tighter Policy Has Been Met

Bank of England Governor Andrew Bailey said he is among officials who think a minimum criteria for tighter U.K. monetary policy has been met, remarks that could reinforce expectations that the central bank will raise interest rates next year.

Speaking in Parliament on Wednesday, Bailey said officials were evenly split at their August meeting on whether there was clear evidence that the economy is eliminating spare capacity and achieving the 2% inflation target “sustainably.” The BOE had previously said it would keep policy on hold at least until those conditions had been met.