Carney: Rate rise 'coming nearer'

Press Association
Lord Mayor's Dinner For The Bankers And Merchants Of The City of London
Lord Mayor's Dinner For The Bankers And Merchants Of The City of London

Interest rates could rise from their historic low of 0.5% sooner than expected, Bank of England governor Mark Carney has warned.

He said "gradual and limited" increases would be needed as the economic recovery progresses, and that while it would be wrong to start now, this was "coming nearer".

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