Nash Peters

GOVERNOR WARNS OF INTEREST RATE INCREASES
Source: Manchester Evening News

TIMES could get even tougher for Britain according to the Governor of the Bank of England.
 
Mervyn King said soaring oil prices may lead to a rise in interest rates.
 
And Mr King admitted the Bank's Monetary Policy Committee had been caught off guard by an abrupt fall in growth and a sharp acceleration in inflation this year.
 
Mr King said the UK may have to prepare for economic turbulence with a rise in interest rates.
 
He also suggested that those who believe the MPC could resolve the nation's problems through interest rate cuts would be disappointed, as he was not convinced by the case.