{"id":2056,"date":"2017-09-29T10:00:55","date_gmt":"2017-09-29T10:00:55","guid":{"rendered":"http:\/\/www.bainesjewitt.co.uk\/blog\/?p=2056"},"modified":"2017-09-29T10:00:55","modified_gmt":"2017-09-29T10:00:55","slug":"interest-rate-hike-just-around-corner","status":"publish","type":"post","link":"https:\/\/www.bainesjewitt.co.uk\/blog\/interest-rate-hike-just-around-corner\/","title":{"rendered":"Interest rate hike just around the corner"},"content":{"rendered":"<p>In an interview with BBC Radio 4\u2019s <em>The Today Programme<\/em>, Mark Carney, Governor of the Bank of England, has hinted that an interest rate rise could be just around the corner.<!--more--><\/p>\n<p>Speaking on the show, Mr Carney confirmed that if the economy continues on its current track, \u201cit may be appropriate to raise interest rates\u201d sooner rather than later.<\/p>\n<p>The expected move \u2013 which the Governor has confirmed is likely to go ahead \u201cin the relatively near-term\u201d \u2013 will mark the first time that the Bank of England\u2019s monetary policy committee (MPC) has raised rates in more than a decade.<\/p>\n<p>Reports suggest that the MPC could act as soon as next month, announcing the rise at its upcoming meeting on 2 November.<\/p>\n<p>Currently, rates are set at a record low of 0.25 per cent, but economists and financial markets predict that the Bank of England will raise this to 0.5 per cent very soon.<\/p>\n<p>When asked about the impact of an interest rate hike on consumer debt, Mr Carney denied that Britain was grappling with a so-called household debt bubble.<\/p>\n<p>Contrary to previous concerns raised by the Bank of England\u2019s financial policy committee (FPC) in recent days, Mr Carney said: \u201cThe level of debt burden relative to income in this economy has gone down by 20 percentage points.\u201d<\/p>\n<p>He added: \u201cIn the past year, the overall level of debt has just begun to grow in line with GDP.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In an interview with BBC Radio 4\u2019s The Today Programme, Mark Carney, Governor of the Bank of England, has hinted that an interest rate rise could be just around the corner.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/2056"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=2056"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/2056\/revisions"}],"predecessor-version":[{"id":2057,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/2056\/revisions\/2057"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=2056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=2056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=2056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}