BoE should hold rates for 'a time longer', says McCafferty

The Bank of England (BoE) should keep interest rates on hold "for a time longer", said Ian McCafferty, one of the central bank's policymakers.

Speaking to LBC radio on Wednesday, McCafferty said keeping interest rates unchanged would prevent the risk of low inflation feeding into lower wage deals.

McCafferty added that all the bank's officials agreed that the next move in rates was likely to be an increase.