--Current Negative Inflation Rate Is "Good Deflation"
LONDON (MNI) - Bank of England Chief Economist Andy Haldane said Friday
that interest rates will start to rise at some point, but when they do, Bank
Rate hikes will likely be slow and gradual.
"When rates do start rising - and I've no idea when that will be -
increases will likely be slow and gradual," Haldane told BBC Radio Scotland.
The Bank of England's benchmark Bank Rate currently stands at a record low
0.5% - a level it has now sat at for over 6 years.
However, Haldane underlined comments he has made in the past, stating that
when rates did start to rise, they were unlikely to hit the levels seen before
the financial crisis.
"When rates do start rising, they will not hit the "old norma