Carney Says Rate Increase Can Wait as U.K. Slack Remains

Mark Carney signaled Bank of England officials are prepared to wait until next year to raise interest rates as the recovery can keep strengthening without fueling inflation.

“The exact timing of first adjustment of bank rate will be a product of the evolution of the economy,” the Bank of England governor told reporters in London as he presented quarterly economic forecasts. “Today’s not the day. There’s additional wasteful spare capacity that can be used up.”