BOE’s Haldane: In no rush to hike rates - RTRS

In an interview published in the Newcastle Chronicle newspaper on Sunday, the Bank of England (BOE) Chief Economist Andy Haldane noted that the central bank is not in a hurry to hike rates, keeping an eye on the inflationary developments.

Key Quotes via Reuters:

“We have a very strong eye on inflationary developments, and they’re currently ahead of our target.”

“That’s why we’ve raised rates once already and why ... we said that, on the balance of probabilities, it seems likely that some further tightening of policy might be needed over the period ahead.” 

“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.”