Bank of England boss Mark Carney has braced borrowers for further and faster interest rate hikes after stronger-than-expected growth in the economy. Bank of England boss Mark Carney has braced borrowers for further and faster interest rate hikes after stronger-than-expected growth in the economy. We have kept interest rates at 0.5%. The report sent the pound surging more than 1% against the US dollar and euro on the Bank’s rate hike hints, while the FTSE 100 Index fell 1%. It comes after financial markets suffered a brutal sell-off at the start of the week in response to fears that rising inflation could spark interest rate hikes across a number of economies.

Source: Irish Independent February 08, 2018 15:56 UTC