Governor of the Bank of England Mark Carney has warned British mortgage borrowers to prepare for higher interest rates - but to hopeful savers he said a rise is not guaranteed.
The Bank was "focussed" on "raising interest rates" and the right time to tighten monetary policy, Carney said, according to the Mail on Sunday and the Telegraph. Rate rises were a "possibility not a certainty", he said. But he urged UK households to prepare for tighter monetary policy. "‘If we think there is a prospect, a possibility - that's a possibility not a certainty - of rate rises, then that is far, far better to let the British people know so they can prepare," Carney is reported to have said. "There's no certainty that [rate rises] will happen, but it is a better posit...
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