BoE Deputy Governor Lombardelli Says Further Rate Hikes May Be Needed

Cointime update: Bank of England Deputy Governor Clare Lombardelli said the UK’s “low-hire, low-fire” labour market may make wage pressures harder to ease, warning that interest rates may need to rise again. “Absent evidence that inflationary pressures are abating, I still think there may be a case for a further increase in rates in the near term,” she said Tuesday in London. She declined to rule out consecutive hikes, saying she would not assume or rule out action in December or February.