Mark Carney, the Governor of the Bank of England, has said interest rates may rise sooner than expected.
Financial experts now expect interest rates to rise in the first six months of 2015, or possibly as early as this autumn. But the speed of any rate rises is expected to be slow, with Carney saying: “We expect that eventual increases in Bank rate will be gradual and limited.”
The news will come as a welcome surprise for savers, many of whom have given up hope of a rise in interest rates.
But it ...