Bank 'won't be pushed into raising interest sharply' - David Miles

clock

The Bank of England won't be pressured into hiking the base rate quickly because inflation is likely to remain relatively low, according to economist David Miles.

Speaking to BBC Radio today Miles, a member of the Monetary Policy Committee, which sets the bank base rate, pointed out that inflation is currently below the Bank’s two% target. He added: "That's very good news because it means that we're not going to be pushed into raising interest sharply, because the inflation outlook remains pretty subdued." His comments follow downbeat wage growth figures released on Wednesday, which showed UK workers earned less in the second quarter of 2014 than they did during the same period in 2013. The Bank of England governor Mark Carney related the fa...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Gilt yields fall after Donald Trump backs down in 'tariff war'

Gilt yields fall after Donald Trump backs down in 'tariff war'

US president pauses most additional tariffs

Jonathan Stapleton
clock 10 April 2025 • 2 min read
Reeves defends yearly Budget to avoid 'constant chopping and changing'

Reeves defends yearly Budget to avoid 'constant chopping and changing'

Treasury Committee scrutinises chancellor on Spring Statement

Isabel Baxter
clock 02 April 2025 • 3 min read
Five key takeaways from the Spring Statement 2025

Five key takeaways from the Spring Statement 2025

OBR growth, ISA reforms and defence

Sorin Dojan
clock 27 March 2025 • 4 min read