Interest rates may not rise says Bank governor

UK - Sir Edward George, governor of the Bank of England, yesterday hinted that interest rates may not need to rise this year.

It was Sir Edward strongest effort yet to play down persistent market expectations of a sharp and early rise in the cost of borrowing. Speaking at a London dinner, he acknowledged that, "if consumer spending were not to moderate of its own accord, we would, in the context of strengthening external demand, clearly need at some point to consider raising interest rates".