in the know

Interest rates to remain unchanged

The Bank of England Governor Mark Carney has indicated that interest rates are going to stay lower than expected, with a rate rise now forecast for 2017 at the earliest. ¬†With the recent stock market turmoil and the oil price rout showing no sign of abating, Carney has said that “now is not yet the time” to raise rates from historic low of 0.5 per cent, adding that any such move would “depend on economic prospects, not the calendar.” (Sourced March 2016 The Negotiator).