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Play now 18 mins

UK interest rates

Duration:
18 minutes
First broadcast:
Thursday 28 April 2011

How long can emergency, near-zero interest rates be maintained in the US and the UK? Nearly three years after the credit crisis, some argue the situation undermines the inflation-fighting credentials of central banks. Lesley Curwen interviews Andrew Sentance, a member of the Bank of England's nine-strong Monetary Policy Committee. He has argued for almost a year that interest rates must go up, even though UK growth has been weak. He talks about the credibility of the Bank, saying of the Committee's reluctance to raise rates, "people may begin to conclude from that, that there is some question mark over the commitment of the Bank of England to the inflation target."

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