Leaviss and Foster clash on interest rates

Leaviss says the MPC would be wrong to raise rates now, warning it would impact on hard pressed borrowers and the weakened UK economy. He says until inflation begins feeding into wages, something which it is showing little sign of doing as yet, then there was no need for the MPC to act. "It would be mad to put up rates right now," he says. "The MPC lacks some credibility right now and it needs to sit on its hands. "I'm nervous about the way money has been printed, but I only look at wage growth and therefore I'm not worried right now." Leaviss adds the economy is to fragile to r...