Why we don’t need an interest rate rise (yet)

The economy is weak and the impact of higher rates on consumer behaviour is arguableIt has been a grim week for economic news. High street stores reported rapidly falling sales – the worst since 2009. Output from Britain’s car factories tumbled, shrinking by 4.1% in September, with demand from UK car buyers plummeting by 14.2%. Meanwhile, official figures revealed the average pay for full-time workers crept up to £550 a week, but in real terms have fallen as they have been outs