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The Bank of England (BoE) Governor Mark Carney testified in front of the Treasury Select Committee. He said that the economy in the U.K. faces risks from geopolitical tensions and a slowdown of global growth. Carney reiterated that inflation in the U.K. could fall below 1% in the next few months.
Carney pointed out that the next monetary policy move will interest rate hike, despite recent decline in inflation.
The BoE governor Carney cautioned that interest rate hike may have more impact as a result of high household debt in the U.K.
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