BoE's Haldane sees upside risk to path for interest rates

LONDON: Bank of England Chief Economist Andy Haldane said on Wednesday he thought there was a chance that interest rates would need to rise faster than the central bank's central view in order to bring inflation to target.

"I think there is the potential for greater than expected momentum in both global and UK growth and inflation," Haldane wrote in an annual report to parliament.

"In my view, this would put the balance of risks to the path of interest rates necessary to return inflation sustainably to target to the upside."

Carney and his fellow BoE interest rate-setters said earlier this month that they would need to raise borrowing costs sooner and by more than they had expected previously if the economy performed in line with their forecasts.