UK rates may head higher

UK - The Bank of England has given its clearest indication yet that interest rates may start to climb again in the near future.

Minutes from the Bank's Monetary Policy Committee (MPC), released on today, 18 July, suggest that some members are in favour of increasing rates in the near future.

The release of UK inflation data on 17 July also diminished the chance of any further cuts to interest rates.

UK prices in June steadied at a two-year high of 2.4%, only 1% below the Bank of England's infla