BoE's Carney says conditions not yet in place for rate hike

Bank of England Governor Mark Carney speaks during an inflation report news conference at the Bank of England in London, Britain, in this file photograph dated November 5, 2015. REUTERS/Jonathan Brady/pool/files

LONDON (Reuters) - Bank of England Governor Mark Carney said on Tuesday that the conditions for an interest rate rise were not yet in place, reiterating his comments last week suggesting the central bank was some way off raising interest rates.

Asked by a committee of lawmakers whether the media correctly interpreted his first speech of the year, where Carney said he had no timetable for raising interest rates, Carney said:

“My sense of the reporting was that it correctly identified the conditions that would be required for an interest rate hike hadn’t come into play, and that those conditions are not yet in place...,” he said.

Reporting David Milliken and Huw Jones; Writing by Ana Nicolaci da Costa, editing by Andy Bruce