(Adds detail)By David MillikenLONDON, Oct 5 (Reuters) - Financial markets are less at risk of "an unpleasant surprise" from the Bank of England, now that they expect an interest rate rise later this year, rather than in mid-2019, BoE policymaker Ian McCafferty said on Thursday. McCafferty, who has voted for a rate rise since June, said financial markets had wrongly regarded the BoE's hands as being tied by Brexit uncertainty, until the BoE said in September that most policymakers expected rates to rise in the coming months. Most economists now expect the BoE to reverse this move in November, and raise rates again in 2018. The BoE has previously said it would not consider selling QE assets until rates had risen some way. McCafferty said QE sales were not identical in their economic effect to rate rises, and instead affected the relative costs of different lengths of borrowing, rather than the outright cost itself.

Source: Times of India October 05, 2017 16:30 UTC