BOE Governor Tells Treasury Committee Rate Hike Closer

An interest rate hike in the UK is “moving closer”, the governor of the Bank of England told MPs in comments that have fanned market expectations that policymakers could start to tighten borrowing costs before the end of the year.

Speaking to the Treasury select committee on Tuesday, Mark Carney also expressed misgivings about the euro project, the sustainability of Greece’s debts and the prospects for the embattled country’s economy in the wake of this week’s deal hammered out by leaders in the single currency union.

His comments on interest rates had immediate impact on financial markets where investors are positioning themselves for the world’s big central banks to start tightening policy after years of ultra-low borrowing costs ushered in by the financial crisis.

via The Guardian

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.