Bank of England's Nickell sees rapidly rising debt

Bank of England Monetary Policy Committee member Stephen Nickell said on Monday 29 March that most UK borrowers can afford the burden of "rapidly" growing mortgage debt, signalling it may see room for higher interest rates.

``We must expect mortgage debt to continue rising quite rapidly,'' Nickell said in an interview on BBC radio. ``By and large, people with mortgages are able to repay them and are able to cope with the interest payments.''

Increasing mortgage debt is a ``perfectly natural''

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