The Guardian (August 9)
“The era of low interest rates will last for at least another 20 years, despite gently rising official borrowing costs in the coming years, one of the Bank of England’s leading policymakers has forecast.” Outgoing monetary policy committee (MPC) member Ian McCafferty said that “structural changes in the global economy meant UK borrowers and savers should get used to interest rates being “significantly” below the 5% average in the 10 years leading up to the financial crisis.”
Tags: BOE, Borrowing, Costs, Era, Financial Crisis, Global economy, Interest rates, Low, MPC, Structural changes, UK
Reuters (August 9)
“The last thing the Bank of England wants right now, one suspects, is a precipitous fall in the value of the pound. Yet with the worst Brexit fears intensifying, that’s exactly what it may have to brace for.”
