US economy

BoE's Haskel says rate rise expectations reflect economic recovery

© Reuters. FILE PHOTO: Professor Jonathan Haskel, who has just been appointed to the Monetary Policy Committee of the Bank of England, is seen in this undated portrait released by HM Treasury in London, Britain, May 31, 2018. Jason Alden/UK Treasury/Handout via REUT

LONDON (Reuters) – Financial markets’ expectations of a rise in Bank of England interest rates over the coming year reflect a stronger economic outlook than during the depths of the COVID-19 pandemic, BoE policymaker Jonathan Haskel said on Tuesday.

“The prospective rise in Bank Rate from its emergency level – whenever that comes – is not a bug, but a feature. It reflects the success of fiscal, health and science policy in dealing with worst economic shock in 100 years,” Haskel said.

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