Continuing wage growth and inflation mean rate hike likely follow despite recent economic slowdown,according to Bank’s monetary policy committee memberA Bank of England policymaker has said interest rates need to rise “relatively soon”, adding to signs that support is gradually building for the first increase in British borrowing costs since before the financial crisis.
Martin Weale, and one of the Bank’s rate-setters,also said a rise would give the central bank scope to make cuts whether the British economy runs into difficulty in the future. Related: Bank of England official raises prospects for early interest rate hike Continue reading...
Source: theguardian.com