Bank of England policymaker says case for raising interest rates is building

David Miles says time to start taking rates back to more normal levels is 'soon' and waiting too long could mean sharper increases later

The time is nearing to raise interest rates in the UK and waiting too long will mean having to increase them more sharply in the end, departing Bank of England policymaker David Miles has said.

In his final speech as an external member of the Bank committee that sets interest rates, Miles also warned investors against looking to other central banks' moves for clues as to how UK policymakers will act.

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