Committee pushes for increase in bank interest rate

IRJ July 13 - Andrew Sentance, who became the first member of the Monetary Policy Committee in June, is pushing for an interest rate hike as a method for economic recovery. Sentence is pushing for policymakers to raise interest rates as economic conditions continue to improve.

“Tightening may be technically correct as the opposite of loosening but it implies that monetary policy might become objectively tight and restrain the growth of the economy significantly,” said Sentence.