Bank warns of 'more frequent' rate increases than expected
About 3 Months, 2 Weeks, 6 Days, 14 Hours, 46 Minutes ago.
Interest rate increases could be "more frequent" than expected if the economy performs as the Bank of England is expecting, governor Mark Carney says.
The markets are forecasting just one interest rate increase by 2021.
But if there is a resolution to the Brexit impasse, and inflation and growth continue to pick-up, then more increases are likely, Mr Carney said.
As expected, the Bank kept interest rates on hold at 0.75% at its latest policy meeting.
Interest rates have been at that level since last August, when the Bank raised them by a quarter of a percentage point.
The Bank is expecting growth and inflation to pick up over the next two years.