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BoE's Bean - Guidance is clear signal on interest rates: report
August 26, 2013 / 9:21 AM / 4 years ago

BoE's Bean - Guidance is clear signal on interest rates: report

The Bank of England is seen in the City of London August 7, 2013. REUTERS/Toby Melville

LONDON (Reuters) - The Bank of England is sending a “clear signal” that interest rates are not likely to rise imminently with its new forward guidance plan, Deputy Governor Charlie Bean said in an interview published on Monday.

The central bank is “communicating not just to market participants, but to people, to households and businesses, to give them a clear signal that interest rates are not likely to rise imminently,” Bean told Bloomberg.

“What we’re trying to do is explain as clearly as we can, what are the factors that will guide policy going forward, recognising the world is an uncertain place,” he said, adding he was “a little bit” surprised at the reaction to the plan in financial markets which have pushed up yields on British government bonds

Writing by Li-mei Hoang, editing by William Schomberg

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