The Bank of England is likely to raise interest rates further, a key rate setter has said.
Dave Ramsden, deputy governor of the Bank of England, said it was “more likely than not” that rates would have to rise again. The Bank raised interest rates by 50 basis points last week, the largest single rise since 1995, to take the main interest rate to 1.75% – its highest since 2009.
Ramsden said the Bank could continue to sell its holding of government bonds even if it is forced to ease monetary policy in the near future.
