The Bank of England signalled yesterday it may need to raise interest rates one more time in the near future to ensure inflation remains under control, according to the Guardian .
Releasing the monetary policy committee's (MPC) quarterly inflation report, the Bank's governor, Mervyn King, said though inflation was set to drop very sharply in the coming months because of falling gas and electricity bills, the committee was more concerned about what would happen to inflation next year and beyond. He pointed to strong growth in the world economy, strong consumer spending and a rapid pick-up in investment by firms in Britain, says the paper. The report predicted the economy would continue to grow rapidly in the next few years at around 2.75% a year, and its charts ...
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