Bank of England leaves interest rates on hold but hints that hike is coming – business live

Britain’s central bank has dropped a clear signal that borrowing costs will rise this year – possibly in MayGovernor Mark Carney’s press conference – highlights start hereBank of England leaves rates on holdSays interest rates could rise faster than expectedPound jumps towards $1.40 1.46pm GMT Jeremy Cook of World First has neatly summed up the Bank’s new forecasts:”This is optimistic stuff albeit underlined by the fairly monstrous caveat that the Brexit that the UK government is able to deliver is a smooth one” – @World_First take on BoE forecasts 1.41pm GMT Q: Are you worried that Brexit will undermine confidence in economic forecasting – as any assumptions you make tend to look political.Mark Carney says that forecasters need to be “transparent, up front” about the assumptions that underpin any Brexit forecasts. Related: Hard Brexit would cost public finances £80bn, says secret analysis The big picture there is something in these forecasts that tell people about how the economy is going to respond. Continue reading…
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