Mark Carney hints at 2015 rate rise
He told CNBC that the MPC’s November meeting will primarily discuss the slow nature of global growth.
Carney said: ‘We have to take into account a more modest global recovery, particularly if that’s the case in Europe.
‘There is weaker global demand relative to global potential that is producing a very benign global inflationary environment.’
But he added: ‘We need to concentrate on what’s going on in the labour market which will be as important as external developments for monetary policy.’
Carney was cautiously optimistic about the state of the UK economy.
He said: ‘We have had a strong recovery in the last 18 months and we are now into an expansion. It’s reasonably broad based, it’s much more than consumption.
‘The business investment is growing more than 10% a year, we’ve had a housing market that’s picked up.’