CML calls for interest rate rise - papers 25th June

Lending by UK banks against the value of houses and flats has risen to a new record, underlining Britons' willingness to borrow for as long as interest rates are low, but the Bank of England's MPC needs to increase rates now, says the FT. The news suggests that mortgage borrowing will remain extremely high until the Bank of England's monetary policy committee follows up on its recent threats and starts to raise interest rates, so the Council of Mortgage Lenders is calling for a rise in rates. The Bank's benchmark interest rate is at a 38-year low, although the minutes of the MPC's...