Interest rates 'must rise sooner'

%VIRTUAL-SkimlinksPromo%Interest rates must start to rise "sooner" if policy-makers want to stick to plans to hike them only at a gradual pace, a key Bank of England official has said.

Martin Weale, a member of the rate-setting Monetary Policy Committee (MPC) who is widely seen as likely to be the first to vote for an increase, made the remarks in an interview with the Financial Times.