Interest in rate rise
Eastern Eye Staff
BANK OF ENGLAND DECISION WILL AFFECT MORTGAGE PAYMENTS THE Bank of England (BoE) will be looking to see if Britain’s economy has recovered from a severe winter chill as it weighs the prospects for a future interest rate rise this week. BoE governor Mark Carney has said first-quarter weakness looks temporary and he expects rates to rise gradually over the next couple of years, to prevent overheating at a time of above-target inflation and the lowest unemployment since 1975. But he has been vague about precise timing. A possible May rate rise was thrown off course by an unusually harsh…
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