Inflation is set to rise

0 Mark Carney says the Bank of England will look to tackle surging Bank of England governor Mark Carney has said a transition agreement for EU withdrawal is in “everyone’s interest” and reiterated it may be “appropriate” to hike interest rates as Brexit-fuelled inflation is set to rise further.

Mr Carney told MPS that policy-makers on the Bank’s Monetary Policy Committee believed a rise in interest rates may be needed over the coming months as it looks to tackle surging inflation caused by the weak pound.

It comes as economists are pencilling in the first