UK Interest Rates Won’t Return to Precrisis Levels, Says BOE’s Chief Economist

LONDON—Britons shouldn’t design borrowing costs to arise to a levels that prevailed before a tellurian financial crisis, and instead should conform themselves to a “new normal” for a Bank of England’s benchmark seductiveness rate of between 2% and 3%, a executive bank’s new arch economist pronounced in an talk published Saturday.

With a U.K. economy flourishing strongly, a BOE’s Monetary Policy Committee is scheming to lift a benchmark seductiveness rate from an all-time low of 0.5%. Minutes from a MPC’s June…

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