Carney Confirms Interest Rate Rise

Bank of England Governor Mark Carney has this morning strongly indicated that interest rates will rise at least once before the end of the year

Emma Wall 29 September, 2017 | 11:45AM

Mark Carney, Governor of the Bank of England

Good news for savers – interest rates will rise before the end of the year, potentially more than once. Bank of England Governor Mark Carney this morning confirmed that if the UK economy stayed on track there would be a rate rise at the next Monetary Policy Committee meeting on November 2.

“The majority of MPC members including myself have said that if the economy continues on this track it may be appropriate to raise interest rates,” he said. “If the economy continues on this track, and all indications suggest that it will, then you should expect in the relatively near term for interest rates to rise. Interest rate increases when they come will be to a limited extent and gradual.”

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Emma Wall  is former Senior International Editor for Morningstar

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