November 16, 2017 / 5:36 PM / a year ago

BoE's Carney says two more rate hikes likely in coming years - report

The Governor of the Bank of England, Mark Carney, smiles at the 'Future Forum 2017' event in St George's Hall, Liverpool, Britain November 16, 2017. REUTERS/Phil Noble

LONDON (Reuters) - The Bank of England will probably need to raise interest rates a couple more times over the next few years if Britain’s economy develops as expected, Governor Mark Carney was quoted as saying on Thursday, echoing guidance the Bank has given previously.

“We’ll see how the economy evolves. If it evolves broadly in line with our projections, we would probably raise interest rates a couple of times over the next few years,” Carney told the Liverpool Echo newspaper.

Carney also told the newspaper that Brexit could affect the path of Britain’s economy but the “fundamental economic impact of leaving the European Union will only be known over a very long period of time.”

The Bank raised interest rates for the first time in more than 10 years earlier this month and Carney said at the time that he agreed broadly with investors who had been pricing in two more rate hikes over the next three years.

Writing by William Schomberg; editing by Stephen Addison

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