Bank of England policymaker Michael Saunders told households to get ready for 'significantly earlier' interest rate rises as inflation pressure mounts in the British economy, the Telegraph newspaper said on Saturday.
The Bank of England and the City of London financial district in London, Britain, November 5, 2020. REUTERS/John Sibley
Saunders said investors were right to bet on faster increases in borrowing costs with consumer price inflation heading above 4%, adding to signs the BoE might become the first major central bank to raise rates since the pandemic struck. "But markets have priced in over the last few months an earlier rise in Bank Rate than previously and I think that's appropriate."read more
Saunders said markets had fully priced in a February rate hike by the British central bank and had half priced in a December increase in borrowing costs.
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