Mr Carney was speaking minutes after the United Kingdom inflation rate for September was revealed to be 3 per cent, the highest for five years. Inflation was last higher in March 2012. In the face of high inflation we are still seeing little wage growth so the pressure is continuing to grow on United Kingdom households.
"These upward effects were partially offset by downward contributions from a range of goods and services, in particular, clothing prices, which rose by less than they did a year ago", the ONS said. Meanwhile, monthly input price inflation eased notably to 0.4 percent from 2.3 percent.
The rise in September signifies that inflation in the quarter has exceeded the Bank of England's forecast of 2.7 percent in the third quarter, made at the time of the August Inflation Report.
Rising import costs deriving from the weak pound should prove temporary, but BoE officials are anxious Brexit has left the economy prone to more persistent price pressures.
Data showed that the consumer price index including owner occupiers' housing costs (CPIH) climbed 2.8 percent year-on-year in September versus 2.7 percent in August.
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Nathan Sweeney, senior investment manager at Architas, agreed a rate rise was now likely next month but said the bigger question was where the Bank went to after that, given that inflation had probably now peaked and the economy was slowing down in response to Brexit.
Asked whether the MPC had enough interest rate "room" to deal with a possible recession, the Canadian responded: "Building a war chest in interest rate terms for a potential future shock isn't staying on point in terms of the inflation target, nor is it appropriate or necessary, given that policy can move quite nimbly if required".
"Overall, today's data are consistent with our view that the Monetary Policy Committee will raise interest rates in November, but it won't be panicked into doing so by concerns about inflation".
James Smith at ING, arguing that underlying inflation is actually below the BoE target if ignoring the impact of sterling and energy, also felt a November rate hike was "highly likely" - though as CPI should peak at 3.1% in October and then gradually start to ease back, any subsequent MPS tightening "is likely to be very limited".