BOE's Cunliffe says now is not the time to raise interest rates

London

BANK of England deputy governor Jon Cunliffe on Wednesday signalled that now is not the time to raise interest rates, siding with his boss Mark Carney in a deepening split between officials on the need for higher borrowing costs.

Speculation mounted last week that governor Carney's grip on decision-making at the BOE was weakening when chief economist Andy Haldane said he might break ranks and join dissenters who voted this month for Britain's first rate hike in a decade.