LONDON (Reuters) – The Bank of England is more likely to want to boost rates of interest to deal with inflation however is not going to achieve this in a hasty method, the central financial institution’s chief economist mentioned in a newspaper article printed on Sunday.
Haldane, on a go to to northeast England, referred to the BoE’s assertion after its coverage assembly on Thursday that rates of interest have been more likely to have to rise considerably sooner and to a considerably higher extent than beforehand thought.
This didn’t imply charges would rise sharply, he mentioned in a report within the Newcastle Chronicle newspaper.
“We’re in no rush, rates won’t remotely go back to levels we’ve seen in the past, but nonetheless keeping the cost of living under control is, we think, the single best and most important thing we can do to help the economy,” he was quoted as saying.
Reporting by David Milliken; Editing by Andrew Heavens