Bank of England Raises UK Growth Forecast

Governor Mark Carney said more frequent rate increases than the market currently expects may be required if the economy evolves in line with the bank's forecasts

Alliance News 2 May, 2019 | 4:32PM

Bank of England Governor Mark Carney

The Bank of England on Thursday decided to keep interest rates on hold, as Governor Mark Carney warned that rates may need to rise faster than the market expects in the case of a smooth Brexit and a UK growing economy.

The BoE boosted its forecast for UK economic growth in 2019, but cut its inflation outlook to reflect lower retail energy prices.

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