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UK Rates to Rise Soon

Tuesday, September 19, 2017

Mark Carney, governor of the Bank of England has said that interest rate rises in the UK will be gradual and that the time for a rise is approaching. “Withdrawal of monetary stimulus is likely to be appropriate” said the governor at a meeting in the US yesterday although he warned “inflation is likely to remain above 2% for the next three years”. The governor mentioned Brexit as “a shock” and said that monetary policy could do little to affect the outcomes of Britain’s exit from the EU.

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