Economics
UK Interest Rates Likely to Rise Above 2%, BOE’s Saunders Says
- Saunders warns of weak supply, excess demand in final speech
- Better to do ‘too much, too soon’ than ‘too little, too late’
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UK interest rates are likely to rise above 2% as the Bank of England tackles domestic inflationary pressures that are building up due to underlying weaknesses in the economy, Michael Saunders said in his final speech as a monetary policy committee member.