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PPI charges: Sentance calls for urgent rate hikes

People who are in the process of making a payment protection claim could be interested in Andrew Sentance's latest comments regarding interest rates.

Mr Sentance, who is a member of the Monetary Policy Committee (MPC), has said that interest rates be raised urgently, reports thisismoney.co.uk.

His comments follow the Bank of England's quarterly inflation report, which revealed that inflation currently stands at four per cent.

Mr Sentance said: "My judgement is that the upside risks to inflation are understated in the published fan charts. And monetary policy would most likely need to be tightened faster and by more than the markets currently expect to bring inflation back to target."

He added that the value of the pound should be one of the key areas of focus for the MPC as "we seek to steer ourselves out" of this phase of high inflation.

Mr Sentance works as an external member to the MPC. He was appointed by the Chancellor of the Exchequer in 2006.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.
 ADNFCR-2776-ID-800411750-ADNFCR



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