Mark Carney, governor of the Bank of England has said that interest rate rises in the UK will be gradual and that the time for a rise is approaching. "Withdrawal of monetary stimulus is likely to be appropriate" said the governor at a meeting in the US yesterday although he warned "inflation is likely to remain above 2% for the next three years". The governor mentioned Brexit as "a shock" and said that monetary policy could do little to affect the outcomes of Britain's exit from the EU.

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