BoE’s M.Carney: rate hikes would proceed slowly

FXStreet (Edinburgh) - BoE’s Governor Mark Carney sees the central bank raising rates over the next three years in order to achieve a sustainable path towards the inflation target. He also added that rates could increase to levels half as high as the historical average.

Carney argued that the timing of rate hikes could be influenced by economic shocks, while the decision about when to start the hiking cycle “will come into sharper relief around the turn of the year”.