Andy Haldane is Bank of England chief economist, quoted in a newspaper article:

  • We have a very strong eye on inflationary developments
  • 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

Haldane in the Newcastle Chronicle, via Reuters