BoE’s Saunders says public is ready for rate hike

External MPC member denies hike would negatively impact household spending

michael-saunders
Photo: BoE

One of the members of the Bank of England’s monetary policy committee has said he does not believe a “modest” rise in rates will have a “disproportionate” effect on spending.

Speaking in Cardiff today (August 31), Michael Saunders explained why he voted for a 25 basis point increase at the BoE’s latest policy, meeting which saw interest rates left on hold.

“Balance sheets are much less fragile than 10 years ago, with lower debt/income ratios and higher levels of liquidity among companies and

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