Michael Saunders, a member of the Bank of England's Monetary Policy Committee, said that the British Central Bank may be forced to raise interest rates in the coming years faster than the market expects. Saunders believes that there may not be enough market-recorded probability of a single rate hike in the next 12 months. In an interview with CNBC, he said: “If the economy develops, as I expect, it is possible that interest rates will have to grow slightly faster.” Saunders expects that the UK economy will continue to grow at the same rate as the last 2 years, if Brexit does not lead to unexpected and significant negative consequences.
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