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Bank of England Governor Mark Carney wants to see Britain get up towards the safe “escape velocity” of steady GDP growth.
Bank of England Governor Mark Carney wants to see Britain get up towards the safe “escape velocity” of steady GDP growth.
(Chris Wattie/REUTERS)

U.K. interest rate rise further down road than market thinks

U.K. unemployment is coming down fast. Markets, relying on the Bank of England’s policy pronouncements in 2013, think that means U.K. interest rates will soon head up. But the central bank’s unemployment threshold is already looking passé. Interest rates could stay down for a surprisingly long time.