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Friday, February 21, 2014

Rise In Interest Rates In 2015?

Martin Weale, a member of the Bank of England's rate-setting Monetary Policy Committee, has said that UK interest rates are likely to rise in the spring of 2015.

I would take that statement with a pinch of salt, until it is clear that the recovery is sustainable the Bank will not risk raising rates. I would also note that 2015 is an election year, a rate rise in the run up to the election would be politically unacceptable (even if the Bank is "independent").

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