BoE Carney: Decision to hike rates will come into ‘sharper relief’ at the turn of the year

FXStreet (Córdoba) – Bank of England Governor Mark Carney said on Tuesday that the decision of when to increase interest rates will come into “sharper relief” around the turn of this year.

Carney reiterated a rate hike will most likely come next year, pouring cold water to expectations of a December-January rate hike on the back of last week’s remarks when he said the time for a rate raise was moving closer. He added that higher interest rates are likely to be needed over the course of the next few years.

Among other remarks, Carney said headwinds to UK growth are coming from Europe, the strong pound and fiscal adjustments.

Bank of England Governor Mark Carney said on Tuesday that the decision of when to increase interest rates will come into “sharper relief” around the turn of this year.

(Market News Provided by FXstreet)