LONDON — Bank of England Chief Economist Andy Haldane said he saw encouraging signs of pay growth and any increase in interest rates should be seen as a "good news story" for Britain's economy, Sky News quoted him as saying on Wednesday. Haldane also said he was among of the majority of BoE rate-setters who, at their meeting this month, felt that Britain's first interest rate hike in a decade might be needed in the coming months. This would be interest rates getting back to normal, even if the new normal is different to the old normal," he said. Advertisement Continue reading the main storyThe BoE last raised interest rates in 2007, shortly before the global financial crisis. It cut them last year after the shock Brexit vote and until recently most economists had not expected a hike until 2019.

Source: New York Times September 27, 2017 21:30 UTC