Interest rates 'as likely to fall as to rise'

Sterling falls 1.5 per cent after Bank of England chief economist says interest rates could go down rather than up

The Bank of England's chief economist Andy Haldane
(Image credit: The Bank of England)

Even though Britain has been out of recession for more than five years and is the strongest growing economy in the G7, Andy Haldane, the Bank of England's chief economist, said yesterday that he believes that the next move in UK interest may be down rather than up.

Speaking in a non-official capacity at a business lunch in Rutland yesterday, Haldane said that he could see good reasons for interest rates to move in either direction.

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