IFAs urged to prepare clients for interest rates of up to 5%

Although he is unsure about the speed of change in the rate, Paul Fisher, the Bank of England's executive director of markets, is confident an initial change of 25 or 50 basis points will not trigger a recession. In a wide-ranging interview with the Telegraph, he was asked how increases in interest rates should be driven into people's consciousness. He said: "Obviously the first time we raise base rates that will be a big signal to people. But you'd like to think independent financial advisers and others will be bringing this home to people when they are arranging their mortgages and ...