The Bank of England (BoE) Governor Mark Carney said at a press conference on Thursday that an interest rate hike is more likely than interest rate cut. He noted that he expects wages to grow solidly this year, and the 2% inflation target will be reached in around two years.

The BoE governor pointed out that the central bank did not discuss negative interest rates.

Carney said that there are downside risks from the slowdown in the global economy.