BOE's Broadbent says there's no great urgency to raise interest rates

Author: Mike Paterson | Category: Central Banks

BOE dep gov speaking on BBC radio 5 Live

  • low CPI may be having some impact on wages
  • oil price drop is net positive for UK economy
  • overall picture is still one of solid growth
  • slowdown is mainly due to emerging economies

" I would describe Europe as a relative bright spot"

Based on the latest BOE growth forecasts Broadbent said it's

"likely that interest rates will have to go up over the next 2-3 years"

Nothing we don't already know but GBP takes a small dip anyhow but as much on general USD demand.

GBPUSD 1.4558 on session lows.

               Broadbent - BOE in no rush to hike

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