February 9, 2018 / 6:22 AM / 10 months ago

BoE's Broadbent: further rate hikes within a year shouldn't be "great shock"

LONDON, Feb 9 (Reuters) - Bank of England Deputy Governor Ben Broadbent said on Friday he did not think a couple more interest rate hikes in the space of a year should come as a great shock, but added that the central bank had not fixed any path for rates.

Speaking a day after the BoE surprised investors by saying it was likely to raise rates sooner and by more than it thought a few months ago, Broadbent said the low level of rates in recent years reflected global factors.

“But nor do I think if there were to be a couple of 25 basis point rises in a year, that that would somehow be a great shock,” Broadbent said in a BBC radio interview.

Asked if he would distance himself from a media report that interest rates are likely double from 0.5 percent by the end of 2018, Broadbent said: “I don’t know... We do not fix the path of interest rates in advance. What is fixed is our remit and rates change with the economy.” (Reporting by Andy Bruce; Editing by Kim Coghill)

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