BoE's Carney: Time for raising rates is getting closer, but no preset course

FXStreet (Łódź) - Speaking at the Institute and Faculty of Actuaries General Insurance Conference in Wales, BoE governor Mark Carney signals that the time of the first interest rate hike is getting closer.

• The economy is normalising.

• There is no pre-set course for interest rate hikes, they are data dependent.

• Once the rises start they will be limited and carried out in a gradual manner.

• The BoE is conscious of risks stemming from a prolonged period of low rates.

• Housing market is posing the biggest risks.