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Wrong time for interest rate rise, Cunliffe warns
Bank of England deputy governor Sir Jon Cunliffe has joined the debate over raising UK interest rates, indicating now is not the right time for a rise. Governor Mark Carney has also said this is not the time for a rate adjustment. But chief economist Andy Haldane has said he may join rate rise dissenters and back a hike later in the year. Sir Jon told the BBC he wanted to see how inflation pressures evolved before deciding to raise interest rates from a record low 0.25%. He also wanted to watch and see if improvements in business investment and exports could compensate for a consumer slowdown. At its last rate rise ... (full story)