Carney's BoE shifts towards forward guidance on rates

Bank of England governor Mark Carney

The Bank of England's Monetary Policy Committee - in its first meeting under governor Mark Carney - today held rates and asset purchases steady, but took a first step towards forward guidance by saying recent market expectations of interest rate rises are "not warranted".

Forward guidance - publicly setting out the path of interest rates in the medium-term - was a preferred method of Carney's during his prior stint as governor of the Bank of Canada (BoC), and UK chancellor George Osborne asked t

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