BoE’s Ramsden sees case to raise rates sooner than thought

LONDON (Reuters) – Bank of England Deputy Governor Dave Ramsden said in an interview to be published on Sunday that interest rates might need to rise sooner than he previously thought if wages grow as fast as the central bank expects in the early part of this year.

Ramsden was one of two policymakers who opposed the BoE’s decision in November to raise interest rates for the first time in a decade, but appears to have shifted his stance somewhat in remarks published by the Sunday Times.

“We all will keep a close eye on what happens through the early part of this year to see if that (BoE) forecast of wage growth picking up to 3 percent is realized. But certainly relative to where I was, I see the case for rates rising somewhat sooner rather than somewhat later,” he was quoted as saying.

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