Look at Omicron data before any interest rate rise, says Bank policymaker

MPC member and rate rise supporter Michael Saunders says more time is needed to study economic effects of new variant

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The Bank of England could benefit from waiting to see the impact of the Omicron coronavirus variant on the UK economy before raising interest rates, one of its policymakers has said.

Michael Saunders said he believed there could be advantages from taking no action when the central bank meets to set borrowing costs in just under two weeks' time.