BoE closer to hike rates – UOB Group

FXStreet (Edinburgh) – According to analysts at UOB Group, the Bank of England could hike rates sooner than markets have previously estimated.

Key Quotes

“The Bank of England Governor Mark Carney appeared before the UK parliament Treasury Committee on Tuesday (14 Jul) and told UK lawmakers that BOE is near “the point at which interest rates may begin to rise is moving closer given the performance of the economy.”

“And he also reiterated his expectation that the path for interest-rate increases would be limited and gradual”.

“And after Carney had made his comments in parliament, another BOE senior official, David Miles said in a speech in London, interest-rate increases must start soon to avoid aggressive tightening later, reinforcing Carney’s view on the closer timeline for BOE to start hiking rates”.

According to analysts at UOB Group, the Bank of England could hike rates sooner than markets have previously estimated. ..

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