BoE's Carney: Rates will rise when economy 'returns to normal'

FXStreet (Łódź) - The BoE head suggests that when interest rates start to grow, the rise will be "gradual and limited.”

• The QE program will continue until “interest rates are at a level when they could be cut, materially.”

• The FPC will manage housing risks in UK, the monetary policy is not the “right tool” for handling house prices.

• When asked about the timing of the first rate hike during the Q&A session, Carney refuses to give a clear answer, saying that it will happen when the economy returns to normal.

• “Escape velocity is when growth is balanced. If we want to see sustained balance, wages must grow.”