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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

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BOE’s Forbes Pushes for a Rate Increase

February, 09 2017
watermark Economic news

Bank of England external MPC member, Kristin Forbes have plans to push for an interest rate hike in response to the increasing inflation as well as the present condition of the British economy.

Forbes also mentioned the resilience of the employment percentage and broader production due to declivity of the pound and growth in energy prices would trigger the central bank to implement tighter policy

The BOE set key interest rate unchanged with record low of 0.25 percent a week ago and the MPC explained that policy makers have low tolerance on inflation more than the 2 percent target. Some agreed that this results is close to its limits and the comments made from the American economist is regarded as one of the major concerns relative to price growth. The December inflation is 1.6 percent and the bank projected that the figures will further raise with a 2.8 percent peak in the year 2018.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.