Inflation is set to fall this time too, but only slowly, as the Bank judges domestic inflation pressures are pending. Raising rates now would be the biggest call on monetary policy Carney has made as governor, and may shape his legacy. Advertisement Continue reading the main storyTwo policymakers voted for a rate rise, and a majority of the others said they expected to do so "over the coming months". Most do not expect another one next year and 70 percent said even one rate rise would be a mistake. "If he presides over a tightening of monetary policy and it slows down the economy, that's what he will be remembered for," McCaughan said.

Source: New York Times October 30, 2017 15:22 UTC