Carney: Inflation ‘likely’ to drop below 1%

Bank of England governor Mark Carney
Mark Carney

Bank of England (BoE) governor Mark Carney today reassured markets that rates in the UK would stay low well into next year, as he presented forecasts showing the central bank is likely to undershoot its inflation band.

"Near-term weakness means it is more likely than not that I will have to write an open letter to the chancellor in the next six months on account of the inflation rate falling below 1%," said Carney at a press conference to launch the BoE's latest inflation report.

If the Bank of

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