Bank Official Warns That Uk Interest Rate Will Rise to 5%

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Home owners need to prepare for a series of interest rate rises to around 5 per cent, a Bank of England official has war ned.

Paul Fisher, who is a member of the Bank's ratesetting Monetary Policy Committee (MPC), said officials would like the current 0.5 per cent base rate to rise to a "normalised" level 10 times as big. But in an interview with The Daily Telegraph, he said "the speed at which that happens is another thing entirely".

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Bank Official Warns That Uk Interest Rate Will Rise to 5%

Mr Fisher told the paper: "We hope people are aware that interest rates at some point will go up again and that the...

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