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Interest Rates Rising !

Yesterday, Bank of England governor Mark Carney gave us the biggest hint yet that interest rates may rise a lot sooner than many industry commentators had predicted. Following the announcement earlier this week that unemployment figures had dropped yet again and moves by the Treasury to limit the amount of money people can borrow, Mr Carney warned on Thursday an interest rate rise could happen before the end of the year.

He said: “There’s already great speculation about the exact timing of the first rate hike and this decision is becoming more balanced. It could happen sooner than markets currently expect.” Something we will all certainly keep a close eye on in the months ahead.