LONDON (Reuters) - Bank of England Governor Mark Carney said on Thursday that interest rates are likely to rise “over the course of the next year”, speaking shortly after the central bank kept borrowing costs on hold in May.
“It’s likely over the course of the next year rates will go up... that’s the most likely thing to happen,” Mr Carney said in an interview with the BBC, the broadcaster said.
“If the economy slows... then we will adjust policy,” he said.
Earlier on Thursday the BoE left rates steady and said weak growth during a snowy start to 2018 was likely to be temporary, but it wanted to be sure the economy was picking up in coming months before raising borrowing costs.
Reporting by Andy Bruce; Editing by William Schomberg