Carney: Rate rises 'possibility not a certainty'

Warning to mortgage holders

Bank of England (BoE) governor Mark Carney has warned UK mortgage holders to prepare for higher interest rates, although he said a rise is not guaranteed.

He said the BoE was "focussed" on "raising interest rates" and the right time to tighten monetary policy, according to the Mail on Sunday. Although rate rises were a "possibility not a certainty", according to Carney, he said UK households should still prepare for tighter monetary policy. "‘If we think there is a prospect, a possibility - that's a possibility not a certainty - of rate rises, then it is far, far better to let the British people know so they can prepare," Carney is reported to have said. "There is no certainty that [rate rises] will happen, but it is a better positio...