Carney to Signal U.K. Rate Outlook With Final 2015 Forecasts

Mark Carney is approaching his self-imposed deadline to clarify policy thinking.

The Bank of England governor has been saying since July that the timing for the first interest-rate increase will become clearer at the turn of the year. This week is one of his last opportunities to guide investors, as he presents the central bank’s final economic projections for 2015 at the Inflation Report press conference in London.

Carney’s heading in the same direction as officials at the U.S. Federal Reserve, who are edging closer to removing emergency stimulus and kept the door open to a rate increase next month. While so far only one of the U.K.’s nine rate setters has voted for tighter policy, some economists say another may join the push this week. Still, investors aren’t convinced, betting that the Monetary Policy Committee will keep the rate at a record low for most of next year.


Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.