Bank of England MPC member says rising inflation and stronger household spending merit increase ‘as early as coming months’
The prospect of the first interest rate rise in a decade has sent the pound to its highest level since the day after the Brexit vote and put debt-laden consumers on notice of higher borrowing costs.
The rally in the pound against the dollar provided some relief for Briton’s travelling abroad and comes amid heightened expectations that the Bank of England could increase rates as soon as November.