Why the Bank of England won’t raise interest rates any time soon
by Phillip Inman from on (#2D4WZ)
Rate-setter Kristin Forbes, who wanted borrowing costs higher, never felt she could vote for an increase. That's because the economy can't really take it
Savers lost one of their last hopes for an interest rate rise when Bank of England rate-setter Kristin Forbes announced she would be heading back to her home in Massachusetts in June.
Forbes, a US academic who craves a return to the "economic normality" of 4%-5% base rates, has consistently called for an increase, though never actually voted for one. After the summer, it could be that only Ian McCafferty is still inclined to raise rates among the Bank's nine monetary policy committee members.
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