Bank of England's Michael Saunders: 'Prepare for higher interest rates'

The MPC member on why he voted for a rise - and why policymakers should not hold fire during Brexit talks

Households should prepare for interest rates to rise as the Bank of England withdraws some of the emergency support it injected into the economy in the wake of last year's Brexit vote, a top policymaker has warned.

Michael Saunders used a Guardian interview to explain why he had voted for a rate rise last month and to emphasise that it was no longer necessary for Threadneedle Street to keep its foot to the floor with record low borrowing costs.

Related: Bank of England edges closer to increasing UK interest rates