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Bank of England's Haldane says pay signs encouraging - Sky News
September 27, 2017 / 9:20 PM / 3 months ago

Bank of England's Haldane says pay signs encouraging - Sky News

LONDON, Sept 27 (Reuters) - Bank of England Chief Economist Andy Haldane said he saw encouraging signs of pay growth and any increase in interest rates should be seen as a “good news story” for Britain’s economy, Sky News quoted him as saying on Wednesday.

Haldane also said he was among of the majority of BoE rate-setters who, at their meeting earlier this month, felt that an interest rate hike might be needed in the coming months.

“In the September minutes in particular, a majority of the committee - of which I am one - said that we could be nearing the point where a reduction in some degree of monetary stimulus might be warranted in the coming months,” Haldane said.

“And let’s be clear here: for me that would be a good news story. This would be interest rates getting back to normal, even if the new normal is different to the old normal,” he said. (Writing by William Schomberg)

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