BoE rate guidance not "a promise", Broadbent says

The Bank of England's indication on Thursday that it will raise Bank Rate twice more by the end of 2020 is not set in stone, one of its top decision-makers said.

In remarks to the BBC's Today programme, the Bank's Deputy Governor, Ben Broadbent, said: "Given all the other things we assume in our forecasts, many of which will be misses [...], we anticipate we will need maybe a couple more rate rises to get inflation back on track while at the same time supporting the economy.

"That is not a promise, and it never could be a promise. And that is not what the governor said yesterday either."

That indication was contained in the latest BoE quarterly Inflation Report published the day before and was the same as at the time of the August IR.