BOE Gov Carney: Do not see a rate increase before 2016; Would need to provide more support if low inflation became self-reinforcing.
- Will look through falls in energy and food prices.
- Market expectations of rate moves have fallen 'notably', could be appropriate for Bank Rate to rise more quickly.
- MPC could boost QE or cut benchmark interest rate.
- Reiterates UK not in deflation.
- Most likely next BoE move is a rate increase.