LONDON, Oct 24 (Reuters) - An increase in Britain’s rock-bottom interest rates is not guaranteed, Bank of England Governor Mark Carney said in comments published on Saturday.
“If we think there is a prospect, a possibility - that’s a possibility not a certainty - of rate rises, then that is far, far better to let the British people know so they can prepare,” he said in an interview with the Mail on Sunday newspaper.
“If events mean that does not happen and rate rises are not appropriate, then we will do the right thing and we will not adjust rates,” Carney was quoted as saying.
Carney also said in the interview that the Bank expected that when rates do go up, the path would be “gentle”, echoing his previous guidance on what is likely to happen to borrowing costs as Britain recovers from the financial crisis. (Reporting By Costas Pitas; editing by William Schomberg)