BoE's Ramsden sees case to raise rates sooner than he thought

The Bank of England might need to raise British interest rates somewhat sooner than Deputy Governor Dave Ramsden had expected if wage growth picks up early this year, according to a newspaper interview released on Saturday. Ramsden was one of two policymakers who opposed the BoE’s decision in November to raise interest rates for the first time in a decade, but appears to have shifted his stance somewhat in comments published by the Sunday Times newspaper.


UK wage pick-up bolsters case for rate rise - BoE's Vlieghe

Signs that British wages are beginning to grow more quickly, along with ongoing global economic strength, have bolstered the case for higher interest rates, Bank of England policymaker Gertjan Vlieghe said on Monday. Vlieghe said there was “increased evidence that tight labour markets are finally starting to have some upward effect on wages”.


BoE ready for more rate hikes in 2018

There were no data releases from the UK today, with focus being on domestic monetary developments. The Bank of England (BoE) announced its first rate hike in more than a decade in November, amid strong inflationary pressures and a low level of unemployment. At the time, it also signaled its intention to gradually tighten its monetary policy over the coming years. Thus, markets have priced another rate hike in for next year, but some believe there could be two interest rate increases in 2018. One key factor for the central bank is Brexit. At the moment, the U.K.'s decision to leave the EU has mainly led to a depreciation of the pound.


Bank of England: disorderly Brexit risk reduced by EU talks progress

Last week’s breakthrough in Brexit talks has reduced the risk of a disorderly British departure from the European Union and may boost economic confidence, the Bank of England said on Thursday after it left interest rates unchanged. BoE policymakers voted unanimously to keep rates at 0.5 percent, as expected, a month after raising them for the first time in more than a decade as inflation approached its highest level in nearly six years. Prime Minister Theresa May secured agreement from the European Commission last week that Britain had made sufficient progress in preliminary talks to move on to negotiating a transition agreement and a longer-term trade deal.


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