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17/10/2014
Bank Of England Suggest Interest Rates Will Remain Low
The Bank of England's chief economist, Andrew Haldane, has said that interest rates should "remain low to avoid long-term economic stagnation".
In a speech to business leaders, Mr Haldane said that he was "downbeat" over the UK economy, due to weaker global trends, low wage growth and "financial and political risks."
Mr Haldane said that because of this "interest rates could remain lower for longer, certainly than I had expected three months ago."
UK interest rates had been predicted to rise early next year.
(MH/CD)
In a speech to business leaders, Mr Haldane said that he was "downbeat" over the UK economy, due to weaker global trends, low wage growth and "financial and political risks."
Mr Haldane said that because of this "interest rates could remain lower for longer, certainly than I had expected three months ago."
UK interest rates had been predicted to rise early next year.
(MH/CD)
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