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17.12 - 14:41
Look at the Omicron data before any interest rate rise, says Bank policymaker
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The Bank of England could benefit from waiting to see the impact of the Omicron coronavirus variant on the UK economy before raising interest rates, one of its policymakers has said.
Michael Saunders, who voted to raise interest rates last month, said he believed there could be advantages from taking no action when the central bank meets to set borrowing costs in just under two weeks time.
The external member of the Bank’s nine-strong monetary policy committee (MPC) was outvoted at its last meeting in November, when the central bank unexpectedly held back from raising rates for the first time since the spread of Covid-19, instead leaving rates unchanged at an all-time low of 0.1%.
“At present, given the new Omicron Covid variant has only been
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