March snowfall won't chill UK economy, Bank policymaker says
by Richard Partington from Economics | The Guardian on (#3N81Z)
Michael Saunders, a member of monetary policy committee, says rates should move up from 0.5%
Fears of a slowdown triggered by heavy snowfall have been overblown, according to a Bank of England policymaker, who has said the UK economy could withstand interest rates reaching as high as 2% within the next few years.
Michael Saunders, a member of the monetary policy committee, said the Bank should move to raise interest rates from the current level of 0.5%.
Related: What would a base rate rise to 2% mean for your mortgage?
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