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Trading news
10 Sep 2014
BoE's Carney: Point where rates should rise is moving closer
FXStreet (Łódź) - Testifying before the UK Parliament's Treasury Committee on the August BoE inflation report, the central bank's governor Mark Carney says that the MPC is aiming at eliminating spare capacity.
• There is no fixed path for the bank rate, Carney emphasizes.
• Rates to stay "materially below" historical average.
• BoE's Miles says that there is no immediate urgency to start normalizing monetary policy, while Carney says that the point where rates should rise is moving closer.
• New ONS GDP revisions do not suggest less slack, Carney remarks.
• There is no fixed path for the bank rate, Carney emphasizes.
• Rates to stay "materially below" historical average.
• BoE's Miles says that there is no immediate urgency to start normalizing monetary policy, while Carney says that the point where rates should rise is moving closer.
• New ONS GDP revisions do not suggest less slack, Carney remarks.