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.


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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam