It is getting more and more unreasonable for the MPC not to raise interest rates, at least to keep in line with inflation. The ONS has announced that the UK had growth of 2% in 2016. What possible reason could the MPC have for not at least keeping the real interest rate zero, if not 1-2%…….The nominal interest rate should be raised immediately to at least 1%. It should have been raised a few months ago, but better late than never.

There can be no possible reason to leave interest rates at 0.25% when inflation is going to be above 2% for quite some time.