UK interest rates set to rise as inflation hits 3 per cent

LONDON – Inflation in Britain is set to rise above 3 per cent in the next month or two due to Brexit-related price increases, the Bank of England’s governor warned Tuesday, reinforcing expectations that interest rates will soon rise for the first time in a decade.

Mark Carney’s comments came after official data showed consumer prices rose 3 per cent in the year to September, from the previous month’s 2.9 per cent rate. The increase, which took the rate to its highest since March...

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