BoE's Bean warns on interest rates - papers

The Bank of England may have to put up interest rates if the commodity price boom continues, deputy governor Charles Bean warns.

While the Monetary Policy Committee remains divided, Bean says the substantial rises in food and oil prices in recent months is a reason for possible rate increases, the Guardian reports. The Bank expects inflation, currently at 3.7%, to fall back to its 2% target, but Bean says the economic boom in some emerging markets could drive commodity prices higher. IFS: UK facing US-style jobless recovery Britain could suffer a jobless recovery lik the one currently engulfing the US, an Institute for Fiscal Studies' economist warns. Mike Dicks, chief economist at Barclays Wealth and auth...