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.