Sentance: Bank risks losing credibility if rates remain on hold

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The Bank of England's credibility risks being damaged if it fails to raise rates from their current record lows, Andrew Sentance, an external member of the Bank's Monetary Policy Committee (MPC) on Wednesday said.

At an event at the British American Business Council, in London, Sentance said gradual rate hikes would provide more confidence to the public and the business community that the MPC takes its price stability remit "seriously". Sentance said that if bank rate, which at 0.5% is now at th

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