When will interest rates go up?



2017-06-21T09:53:11.775Z
2017-06-21T09:53:11.775Z

Bank of England. Dun.can

What is the current thinking about when interest rates in the UK will go up?

Mark Carney, the governor of the Bank of England, said on 20 June 2017 that now was not the right time for interest rates to start going up from their historic low levels. This means they probably won't rise in the next few months. He said: "From my perspective, given the mixed signals on consumer spending and business investment, and given the still subdued domestic inflationary pressures, in particular anaemic wage growth, now is not yet the time to begin [interest rate increases]... In the coming months, I would like to see the extent to which weaker consumption growth is offset by other components of demand, whether wages begin to firm, and more generally, how the economy reacts to the prospect of tighter financial conditions and the reality of Brexit negotiations."

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