The Bank of England (BoE) Deputy Governor Ben Broadbent said in an interview on Friday that there is no urgency to start raising interest rates.

"We are clearly closer to the time at which rates may have to go up, but that does not mean we're fixing some particular point in the future," he said.

Broadbent added that "there is not that much inflationary pressure at the moment".

The BoE deputy governor pointed out that it would be foolish to pre-announce when the central bank starts to hike its interest rate.