Rates to move higher, albeit at a measured pace – BOE’s Cunliffe

FXStreet (Mumbai) - In an interview with the Yorkshire Post reported by MNI, the Bank of England (BOE) Deputy Governor Jon Cunliffe said that the UK interest rates is expected to move higher, although at a measured pace, before settling at levels lower than those seen pre-crisis.

However, he was unwilling - or unable - to put any timing on when the first upward move in rates in over 8 years was likely to come, saying only that the next move would be dependent on economic data.

Cunliffe also added that the MPC would make its decisions over events and data in the UK economy and would not be influenced by any move by the Federal Reserve.