'Gloomier' Bank of England says expect interest rates lower for longer

Andrew Haldane said in a speech he was downbeat over the UK economy because of weaker global growth, low wage growth and financial and political risks. "Put in rather plainer English, I am gloomier," Haldane said, according to the BBC. "This implies interest rates could remain lower for longer, certainly than I had expected three months ago." Previously, UK interest rates had been expected to rise early next year. Haldane made his remarks at a speech to local business leaders in Kenilworth, where he described the UK's economy as "writhing in both agony and ecstasy". He said t...