Carney rules out interest rate rise

Bank of England Governor Markcarneyhassaidthatnow is not the time for an interest rate hike, while wages continue to stagnate and the impact of Brexit on the UK economy is unclear.

Speaking after three Bank policymakers called for a rate rise amid warnings that Brexit-fuelled inflation is set to surge further over the sum- mer, Mr Carney said: “Now is not yet the time to begin that adjustment”.

Delivering his delayed Mansion House speech, Mr Carney said: “Given the mixed signals on consumer spending and business investment, and given the still subdued domestic inflationary pressures, in particular anaemic wage growth, now is not yet the time to begin that adjustment.” 0 Mark Carney said the impact of Brexit remains unclear