Sentance repeats rate rise call

The Bank of England should not delay raising interest rates as to do so may mean that rates will have to rise more sharply in future, Monetary Policy Committee member Andrew Sentance was quoted as saying yesterday. In an interview with the Flintshire Leader, Sentance also said he was encouraged by the strength of the recovery in the manufacturing sector. Sentance has been voting for higher rates since last June and for the last two months has called for a half percentage point increase in borrowing costs from their record low of 0.5 per cent. “I would like to see rates raised gradually now and not put it off,” he said.