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Chancellor: BoE ‘absolutely right’ to raise interest rates

Video Credit: ODN - Duration: 00:56s - Published
Chancellor: BoE ‘absolutely right’ to raise interest rates

Chancellor: BoE ‘absolutely right’ to raise interest rates

Chancellor Jeremy Hunt says his spring budget must "support" the Bank of England's interest rate rise in an effort to stem inflation.

Speaking to reporters during a visit to a shopping centre in Woking, he says: "We recognise it is very difficult for families, businesses, up and down the country when business rates go up.

But much harder for them would be if we didn't take decisive steps to bring down inflation.

That's why the Bank of England is absolutely right to do what they've done today.” Report by Patelr.

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