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Bank of England's Haldane says pay signs encouraging - Sky News

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Bank of England's Haldane says pay signs encouraging - Sky News

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LONDON (Reuters) – Bank of England Chief Economist Andy Haldane said he saw encouraging signs of pay growth and any increase in interest rates should be seen as a “good news story” for Britain’s economy, Sky News quoted him as saying on Wednesday. Haldane also said he was among of the majority of BoE rate-setters who, at their meeting earlier this month, felt that an interest rate hike might be needed in the coming months. “In the September minutes in particular, a majority of the committee – of which I am one – said that we could be nearing the point where a reduction in some degree of monetary stimulus might be warranted in the coming months,” Haldane said. “And let’s be clear here: for me that would be a good news story. This would be interest rates getting back to normal, even if the new normal is different to the old normal,” he said.

(Writing by William Schomberg)
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