Rate maintained: A reflection of the Bank of England sits in the window of a store on Threadneedle Street in the City of London. The BoE cut interest rates to a record low of 0.5 in 2009 and has kept them there ever since, even as Britain’s economy recovered strongly over the past two years. — Bloomberg
LONDON: An increase in Britain’s rock-bottom interest rates is not guaranteed although households should prepare for higher borrowing costs, Bank of England (BoE) governor Mark Carney said in comments published on Saturday.
“If we think there is a prospect, a possibility – that’s a possibility not a certainty – of rate rises, then that is far, far better to let the British people know so they can prepare,” he said in an interview with the Mail on Sunday newspaper.
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