BOE jacks up 2017 growth forecast; in no rush to raise interest rates

London

THE Bank of England (BOE) boosted its forecast for British growth in 2017 and some rate-setters were more nervous about rising inflation, but the bank overall seemed in no rush to raise interest rates as the economy adjusts to the prospect of "Brexit".

In a sign of a developing split, the BOE said that some of its rate-setters had "moved a little closer" to their limits for tolerating an overshoot of the bank's 2 per cent inflation target, caused by sterling's slide since June's Brexit vote.