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BoE's McCafferty says he doesn't know if he will vote to raise rates
March 28, 2017 / 4:21 PM / 9 months ago

BoE's McCafferty says he doesn't know if he will vote to raise rates

LONDON, March 28 (Reuters) - Bank of England interest rate-setter Ian McCafferty said on Tuesday he did not know whether he would vote to increase borrowing costs at the next meeting of the BoE’s policymakers in May.

“The straight answer to that, Jamie, is I don’t know,” McCafferty said in response to a question from a listener during a call-in show on LBC radio.

One BoE policymaker, Kristin Forbes, voted to raise rates earlier this month because of growing inflationary pressures and others said they would consider joining her depending on further news about rising inflation and growth.

Since then, data has shown inflation hit 2.3 percent in the year to February.

McCafferty told LBC that the BoE had said it had limited tolerance for inflation rising above its 2 percent target. (Reporting by David Milliken; Writing by William Schomberg; Editing by Andy Bruce)

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