Interest rate rise looms at last after decade of rock-bottom rates

Increase from 0.25% to 0.5% looks imminent in wake of latest good news from Britain's manufacturing sector

The Bank of England is on track to raise interest rates for the first time in more than a decade on Thursday after data from manufacturers strengthened the case for an increase.

The industrial sector is reporting that it remains in rude health as companies benefited from strong sales in the UK last month and new export business driven by the weak pound. Combined with high inflation and record low unemployment, the figures pointed to the Bank raising the cost of borrowing from 0.25% to 0.5%.