BoE Governor Carney To Hold Public Speech to Support Low Rates

The Bank of England governor, Mark Carney, will reiterate his pledge to keep Britain’s borrowing costs at record lows until the recovery is secured, in the face of growing scepticism, when he gives his maiden public speech in the UK this week.

Carney is expected to use an appearance at Nottingham University on Wednesday to challenge hawks in the City who doubt whether he can maintain interest rates at record lows until 2016.

Economists predict that Mervyn King’s successor will repeat his July warning that market expectations of an earlier rate rise are “unwarranted”. Under the Bank’s new forward guidance, it will not raise rates until another 750,000 jobs have been created in the UK economy.

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza