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Bank of England Governor Mark Carney signals that the interest rates in the U.K. may stay longer at low levels
The Bank of England (BoE) Governor Mark Carney signalled at a press conference on Thursday that the interest rates in the U.K. may stay longer at low levels due to the slowdown in the Chinese economy.
"Monetary policy must continue to balance two fundamental forces -- domestic strength and foreign weakness. The outlook for global growth has weakened since August. Many emerging-market economies have slowed markedly this year, and the committee has downgraded its assessment of their medium-term growth prospects," he said.
"We are in a situation where we have resilient domestic demand and, even in the face of global weakness, we still see the need for gradual interest rate rises to bring inflation back to target," Carney added.
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