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BoE's Bailey: We think rates will rise by less than markets expect

Bank of England Monetary Policy Report News Conference, in London

LONDON (Reuters) - The Bank of England's benchmark Bank Rate will probably have to go up by less than markets currently expect, BoE Governor Andrew Bailey said on Thursday.

"We can't make promises about future interest rates, but based on where we stand today we think Bank Rate will have to go up by less than currently priced in financial markets," he told a news conference.

(Reporting by Andy Bruce and Kylie MacLellan, writing by William James; Editing by William Schomberg)