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Interest increases in future rate rise; In Brief.

INTEREST rates could rise more quickly than forecast in November's Inflation Report, a Bank of England official has said.

But Minouche Shafik, deputy governor for markets and banking and a member of the Monetary Policy Committee which sets rates, added that she will wait for wage growth to increase before voting for an increase.

In a speech at the Institute of Directors in London, the former World Bank vice-president said: "I will wait until I am convinced that wage growth will be sustained at a level consistent with inflation returning to target before voting for an increase in Bank Rate.

"But once I am convinced, I can see Bank Rate rising more quickly than the path implied by the market curve at the time of the last Inflation Report."

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Publication:Coventry Evening Telegraph (England)
Date:Dec 15, 2015
Words:129
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