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In the News

Magna Carta and the Bank of England - Carney on Interest Rates

Geoff Riley

17th July 2015

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Here is a link to the speech given by Bank of England Governor Mark Carney at Lincoln Cathedral in July 2015. In it he said that policy interest rates are likely to start rising again from their ultra-low level of 0.5% later on in 2015. The process of returning interest rates towards their normal level will be a very gradual one. Carney also argued that the "new normal" for monetary policy interest rates is likely to be materially lower than in the past with rates of 2 - 3% more likely compared to a norm of around 5% ten years ago.

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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