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UK rate rise "some way" from being made – BOE’s Haldane

FXStreet (Mumbai) - The Bank of England (BOE) dove and Economist Haldane was on the wires today stating that there is still “some way” to go before the central bank could announce a liftoff.

Haldane sees significant downside risks to UK growth and CPI.

Key Quotes

“The case for raising rates in the current environment is some way from being made”

“The balance of risks to UK growth & inflation at the 2-year horizon, is skewed significantly to the downside”

“could be a need to loosen rather than tighten the monetary reins as a next step to support uk growth, return infl. to target”

Crude Thoughts

So, the market got it right and the Fed decided that rates would stay unchanged, having said what they did it looks like next year now before they think again. And it is what they said that caused the oil market to move so sharply after the announcement. Initially crude rose sharply as the idea of a weaker dollar excited traders but when the release was read to them it transpired that the reason that there was no change was because of worries about world economic growth. The Fed also stated
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