Mark Carney says interest rate hike 'taken off the table'

BoE governor insists fast-recovering job market won't force the central bank's hand on rates

mark-carney-1.jpg
(Image credit: Getty Images)

THE prospect of an early interest rate rise due to the economic recovery has been "taken off the table", The Times reports.

Speaking at the World Economic Forum in Davos, Bank of England governor Mark Carney said there was "no immediate need" to increase rates despite sharper than expected fall in unemployment to 7.1 per cent. Carney added that any shift in rates would be gradual, the paper says.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up