UK rate rise not a certainty, says Mark Carney

An increase in Britain’s rock-bottom interest rates is not guaranteed although households should prepare for higher borrowing costs, Bank of England governor Mark Carney has said.

“If we think there is a prospect, a possibility of rate rises, then that is far, far better to let the British people know so they can prepare,” he said in an interview with the Mail on Sunday.

“If events mean that does not happen and rate rises are not appropriate, then we will do the right thing and we will not adjust rates,” Carney was quoted as saying.