Central bank officials signal more interest-rate increases

Central bank policymakers from the UK, US and eurozone signaled more rate increases at a gathering in London.

Interest rates affect borrowing costs, so increases can make loans more expensive.

A think tank warned the Bank of England may need to raise rates to 5%.

That is a warning about a possible increase, not confirmation that the Bank has decided to make it.

The discussions point to further rate rises being considered across the UK, US and eurozone.

The source gives no timetable or confirmed decisions on future increases.