Mark Carney, the governor of the UK's central bank has said that the Bank of England is not looking to increase its key interest rates soon.

He affirmed that the central will only start increasing rates when the UK economy shows signs of operating at full capacity. The central bank had said that it will consider a range of measures while deciding if it is aiming to increase interest rates.

"The path of monetary policy, the path of interest rates is going to be calibrated very carefully to ensure that only when we see sustainable growth in jobs, in incomes and in spending, will we make adjustments," Mr Carney said.

He dismissed expectations of an imminent rate rise in the UK and said that the Bank's Monetary Policy Committee and the policy makers will consider a range of options in the coming month for the strategy for the UK's central bank. He said that the level of stimulus will remain exceptional for some time and pointed out when it will be appropriate to increase rates, the hike will be gradual.

The Bank of England has indicated that it will keep its interest rates at the record low level of 0.5 per cent. The Monetary Policy Committee of the central bank said that it is not looking to increase interest rates soon.