Mark Carney: US interest rate hike 'contributory factor' to market turmoil

The Federal Reserve’s decision to raise interest rates in the United States has been a “contributory factor” to the current market turmoil, Bank of England governor Mark Carney has said.

Giving evidence to the Commons Treasury Committee in the UK, Mr Carney said the Bank’s financial policy committee (FPC) had always expected that the move last December to put up rates in the US for the first time in almost a decade would have implications for the wider global economy.