BoE's Ramsden sees case to raise rates sooner than thought

By Kitco News / February 24, 2018 / www.kitco.com / Article Link

LONDON, Feb 24 (Reuters) - Bank of England Deputy Governor Dave Ramsden said in an interview to be published on Sunday that interest rates might need to rise sooner than he previously thought if wages grow as fast as the central bank expects in the early part of this year.

Ramsden was one of two policymakers who opposed the BoE's decision in November to raise interest rates for the first time in a decade, but appears to have shifted his stance somewhat in remarks published by the Sunday Times.

"We all will keep a close eye on what happens through the early part of this year to see if that (BoE) forecast of wage growth picking up to 3 percent is realised. But certainly relative to where I was, I see the case for rates rising somewhat sooner rather than somewhat later," he was quoted as saying.


(Reporting by David Milliken; editing by Alexander Smith)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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