Michael Saunders says Brexit uncertainty is hitting consumer confidence,but ‘modest’ increase is essential to curb high inflationBritain needs higher interest rates to prevent inflation from heading back towards 3% and staying there for several years, according to Michael Saunders, and one of the two dissenting Bank of England rate-setters to vote for a rise earlier this month.
Saunders said the UK economy was able to resist the impact of higher credit costs after a steep fall in unemployment that paved the way for an increase in wages and higher prices in shops. Related: Quantitative easing is a costly habit we should gain kicked long ago | Larry Elliott Continue reading...
Source: theguardian.com