Bank of England's McCafferty - best to hold rates for a time longer
LONDON (Reuters) - Bank of England policymaker Ian McCafferty said on Wednesday he thought the central bank should keep interest rates on hold "for a time longer" to prevent the risk of low inflation feeding into lower wage deals.
McCafferty voted for a rate hike for several months in late 2014 until he changed his mind in January and rejoined the majority of policymakers at the BoE voting to keep borrowing costs unchanged.
He told LBC radio that all the BoE's rate-setters agreed that the next move in rates was likely to be an increase rather than a cut.
(Reporting by Andy Bruce; writing by William Schomberg)
