Interest Rates to Rise to 2.5%

Bank of England governor Mark Carney has suggested base rate will rise to 2.5% by early 2017, where it will stabilise for some time

Emma Wall 27 June, 2014 | 1:39PM
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After five years of record low interest rates, savers have received key guidance about when base rate will start to rise.

Governor of the Bank of England Mark Carney indicated that interest rates would rise at the end of this year earlier this month, with economists predicting rises of 25 basis points every three months. The announcement was seen as something of a u-turn by economists.

However the rate rise may be more sharp than that if Carney’s latest indicators are anything to go by.

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Emma Wall  is former Senior International Editor for Morningstar