Tide is turning towards interest rate hike, says Bank’s Sentance

first_imgSunday 10 April 2011 11:39 pm THE BALANCE of opinion is turning towards a gradual rise in interest rates, the Bank of England’s chief hawk Andrew Sentence said yesterday.“I’m not sure I am swimming against the tide because I think the balance of opinion has been shifting in that direction,” Sentance said, referring to the growing support for normalisation of Bank rate on the monetary policy committee.Sentance was a lone voice on the committee for much of last year, voting for higher rates from June onwards. This year he has been joined by two other members of the committee – Martin Weale and Spencer Dale – who are voting for a rise. Weale and Dale want a 0.25 per cent rise, while Sentance is pushing for 0.5 per cent.Many of the factors pushing up prices in the UK may not be as “temporary” as some economists predict, Sentance said on Sky News.“We can see the VAT impact is going to be temporary but some of the other factors coming from the global economy, we can’t be sure that they will subside quickly because the world economy is growing strongly,” he added. KCS-content Tide is turning towards interest rate hike, says Bank’s Sentance whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrapcenter_img Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDrivepedia20 Of The Most Underrated Vintage CarsDrivepediamoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald whatsapp Show Comments ▼ Tags: NULLlast_img