Carney: UK interest rate rise plans unaffected by China troubles

Carney, speaking at the annual Jackson Hole convention in the US of central bankers and economists, said: "The prospect of sustained momentum in the UK economy and the gradual firming of underlying inflationary pressures will likely put the decision as to when to start the process of gradual monetary policy normalisation [or interest rate rises] into sharper relief at the turn of this year." The response, reported by the BBC, is Carney's first to the huge sell out of shares on the Shanghai stock market during last week that for some days also impacted stock markets all over the world. ...