BoE stance on rates unchanged by China: Carney

Bank of England Governor Mark Carney said on Saturday that concerns about a slowdown in China's economy did not change the British central bank's position on when it might start to increase interest rates. "As I said recently, the prospect of sustained momentum in the UK economy and the gradual firming of underlying inflationary pressures will likely put the decision as to when to start the process of gradual monetary policy normalisation into sharper relief around the turn of this year," he said.
"Developments in China are unlikely to change the process of rate increases from limited and gradual to infinitesimal and inert," Carney said, speaking at an annual US central banking conference in Jackson Hole, Wyoming.