August 7, 2018 / 3:29 PM / in 8 days

Reasonable to expect couple more rate hikes - BoE's McCafferty

LONDON (Reuters) - Bank of England interest rate-setter Ian McCafferty said on Tuesday it was reasonable for financial markets to expect a couple more small rate hikes over the next two years.

FILE PHOTO: Ian McCafferty, a member of the Bank of England's Monetary Policy Committee poses for a photograph at the Bank of England in London, Britain, April 9, 2018. REUTERS/Hannah McKay

“We’re only talking over the next couple of years of possibly a couple more small interest rate rises over that period. That’s what the markets are expecting and I think that’s a reasonable rule of thumb if the economy performs as we expect,” McCafferty said in a question-and-answer show on LBC radio.

His comments echoed those of BoE Governor Mark Carney last week after the BoE raised borrowing costs for only the second time since the financial crisis over a decade ago.

Writing by William Schomberg; Editing by David Milliken

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