BoE Governor Carney To Hold Public Speech to Support Low Rates

The Bank of England governor, Mark Carney, will reiterate his pledge to keep Britain’s borrowing costs at record lows until the recovery is secured, in the face of growing scepticism, when he gives his maiden public speech in the UK this week.

Carney is expected to use an appearance at Nottingham University on Wednesday to challenge hawks in the City who doubt whether he can maintain interest rates at record lows until 2016.

Economists predict that Mervyn King’s successor will repeat his July warning that market expectations of an earlier rate rise are “unwarranted”. Under the Bank’s new forward guidance, it will not raise rates until another 750,000 jobs have been created in the UK economy.

via The Guardian

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