Economics
BOE's Saunders Warns of First U.K. Rate Increase in a Decade
- Officials flag risks from consumer credit to commerical banks
- BOE last increased interest rates 10 years ago on Wednesday
Carney Says BOE May Need to Start Raising Rates Soon
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Ten years since the Bank of England last raised interest rates, policy makers are warning Britons to prepare for the next one.
“Our foot is pretty much on the floor with the accelerator,” Michael Saunders, a member of the rate-setting Monetary Policy Committee, told The Guardian in an interview published late on Tuesday. “Households should prepare for interest rates to go higher at some point.”