Cunliffe Supports Carney on Interest Rates

Bank of England deputy governor Sir Jon Cunliffe has joined the debate over raising UK interest rates, indicating now is not the right time for a rise.

Governor Mark Carney has also said this is not the time for a rate adjustment.

But chief economist Andy Haldane has said he may join rate rise dissenters and back a hike later in the year.

Sir Jon told the BBC he wanted to see how inflation pressures evolved before deciding to raise interest rates from a record low 0.25%.

BBC

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
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 Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. 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.