LONDON, June 9 The case for the Bank of England
to raise interest rates is becoming more balanced, though there
is still scope for the economy to grow further before rates go
up, BoE policymaker Ian McCafferty said on Monday.
A minority of BoE policymakers - who were not named - said
in May's policy minutes that the case for a rate rise was
strengthening, and McCafferty said in a radio interview that he
believed this was the case too.
"A year ago with the economy flat on its back, it (was) a
very easy decision to make as to quite what the appropriate
level of interest rates is," he told London radio station LBC.
"After a year of relatively strong growth, in which we have
seen a sharp fall in unemployment, and some very modest
improvement now in nominal pay scales ... then you have to say
that the decision becomes more balanced," he added.
(Reporting by David Milliken and Ana Nicolaci da Costa)