BoE's s Barker: no need to raise rates

A high inflation forecast does not mean the Bank of England has to raise rates, a member of its rate-setting monetary policy committee told a Scottish newspaper, as figures released today showed the UK housing boom continuing apace.

Kate Barker, a member of the Bank's monetary policy committee, said in an interview with The Scotsman newspaper on Tuesday that while the last two rate rises had not slowed consumer demand as much as the Bank had expected, the central bank's target was inflation, n