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Incoming MPC members say interest rates high enough

Two incoming members of the Bank of England&#39s Monetary Policy Committee hinted last night that interest rates are high enough in the UK to keep inflation in check.


Professor Stephen Nickell and Christopher Allsopp said that interest rates are at a level to hit the Government&#39s inflation targets.


Nickell and Allsopp are replacing outgoing members William Buiter and Charles Goodhart, who resigned this month.


Both Buiter and Goodhart were seen by industry as being “hawkish” towards interest rates.They both consistently voted in favour of interest rate hikes in attempts to push down the pound.


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