"Interest rates are set to quadruple within a year, adding more than £100 a month to a typical mortgage, a senior Bank of England adviser has warned. Families should brace themselves for a rate rise as officials try to get to grips with soaring inflation, said Andrew Sentance, of the Bank’s Monetary Policy Committee, says the Daily Mail." Followed by "Interest rates are likely to remain at their record low level for months to come after falling food prices brought a surprise drop in inflation. Vince Cable, the Business Secretary, openly encouraged the Bank to keep rates on hold, saying the UK economy “needs” low rates to recover, the Telegraph reports." What a load of pooh.
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