Governor of the BoE Mark Carney said that economic development is needed to justify the first increase of the interest rate in the UK.
BOE kept its benchmark interest rate at a record low of 0.5% in that month, unchanged from levels in March 2009
While it is expected that the Federal Reserve will start tightening policy on Wednesday, the central bank of the United Kingdom has indicated that no hurry to follow its US counterpart "Low for Long".
Carney said the focus is on preventing the accumulation of risks and excessive credit growth.
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