BoE’s Broadbent: Rates may have to stay high ‘for some time yet’

Bank Of England Headquarters Ahead Of Policy Meeting

JACKSON HOLE (Wyoming): Interest rates in Britain might have to stay high “for some time yet,” Bank of England (BoE) deputy governor Ben Broadbent said last Saturday, as the central bank seeks to curb the highest inflation rate among the world’s big rich economies.

Broadbent said in a speech that the knock-on effects of the surge in prices – such as pressure on employers to push up wages, which has led to record growth in pay – were unlikely to fade away as rapidly as they emerged.