FT.com: King cements expectations for further rate rise

To paraphrase Tommy Cooper. Looks like our BTL friends are about to up the pace in heading for their exit, whist encouraging their compatriots to stand firm.

Mervyn King indicated interest rates would need to rise to 6 per cent before the end of the year in order to return inflation to the Bank of England’s long-term target.

Presenting the August inflation report, the governor of the Bank of England said the economy was benefiting from rapid global expansion.

The report said the UK economy had sustained a “brisk pace of output growth” since the publication of the last report in May despite “tentative signs of a slowing in consumer spending”.