Waiting for a rise in interest rates

Bank of England governor Mark Carney has kept everyone guessing as to when interest rates will rise.

When will interest rates rise again in the UK? Not as quickly as the market had expected, judging by the Bank of England's latest quarterly inflation report.Governor Mark Carney said that Britain's economy was returning to "a semblance of normality".

The Bank's forecasts for UK growth improved a bit GDP growth is set to come in at 3.5% in 2014 and 3% in 2015, it now believes. It also cut its estimate for the overall amount of spare capacity' which basically means the level of give' left in the economy to 1% of GDP.

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Andrew Van Sickle
Editor, MoneyWeek

Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.

After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.

His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.

Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.