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The Bank of England joins the “hikers”

Mark Carney has signalled that it is time for an interest rate rise. What’s his thinking?

By George Magnus  

Bank of England Governor Mark Carney. Photo: Victoria Jones/PA Wire/PA Images

Following in the footsteps of the United States Federal Reserve and the Bank of Canada, the Bank of England now looks set to join the “hikers.” A couple of increases in interest rates this year, at least, may kick off in the spring. What’s the thinking here? The key issue is the economy’s supply side.

The Bank has revised up its expectation of GDP growth this year by 0.1 per cent to 1.8 per cent, and is…

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