Bank of England boss gives fresh warning over interest rates rise after surge ...

Bank of England boss gives fresh warning over interest rates rise after surge ...
Bank of England boss gives fresh warning over interest rates rise after surge ...
Bank of England boss gives fresh warning over interest rates rise after surge in energy prices The Bank of England will raise interest rates amid the surge in the price of energy Governor Andrew Bailey said increased inflation will last longer than expected Interest rates were dropped to historic lows of 0.1 per cent in March last year

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The Bank of England gave another warning yesterday that it will raise interest rates amid the surge in the price of energy.

Governor Andrew Bailey said the increased inflation will last longer than previously expected because of soaring gas bills and rising wages.

He made clear that the Bank 'will have to act and must do so if we see a risk, particularly to medium-term inflation'.

Interest rates are currently at historic lows of 0.1 per cent, having been dropped from 0.25 per cent in March last year to help fight the impacts of

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