Interest rates must be raised in ‘small and well spaced quarter point steps’, says Eversheds

Bruce Dear, head of London real estate at Eversheds, has commented on the prospect of interest rates rising in 2014.  

‘Since 2008, the UK economy has been supported by a zimmer frame of 300-year low interest rates. With recovery under way, the trick is to raise rates in small and well-spaced quarter point steps.

‘Pull the cheap money crutch away too suddenly and the economy may not be strong enough to walk alone. For Mr Carney, this appears to be more a case of nursing rather than ice hockey.’