A Bank of England official, and member of the monetary policy setting committee, Kristin Forbes, has warned against putting off raising interest rates for too long, saying that "maintaining interest rates at the current low levels during an expansion risks creating distortions". The governor also said he was concerned about a rise in inflation as consumers spend more on imported goods such as food and fuel.
A Bank of England official, and member of the monetary policy setting committee, Kristin Forbes, has warned against putting off raising interest rates for too long, saying that "maintaining interest rates at the current low levels during an expansion risks creating distortions". This comes as policy-makers in both the UK and the US consider when to raise interest rates, with sentiment seeming to now point to a December rate-hike in the US.