the republic logo

Bank of England minutes show that interest rates will rise only gradually

Share/Save/Bookmark

LONDON — Bank of England policymakers are signaling that interest rates are likely to go up only gradually — though debate on the matter seems to be getting hotter.

Minutes released Wednesday from their July meeting show the members disagree on whether rates should stay low to support the recovery or edge higher as economic growth gathers pace.

Policymakers opted to leave interest rates at a record low 0.5 percent and refrain from pumping more money into the economy.

Chris Williamson, chief economist at Markit, says policymakers are "becoming increasingly torn" but that unless the rate of economic growth weakens substantially in coming months, he'd expect to see them try "to talk up the likelihood of a first rate hike in November."

Think your friends should see this? Share it with them!

All comments are moderated before posting. Your email address must be verified with Disqus in order for your comment to appear.
View our commenting guidelines and FAQ's here.

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Subjects:

Places:

 

Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.