BOE Must Raise Rate Slowly as U.K. Avoids Slump, Sentance Says

Sept. 22 (Bloomberg) -- Bank of England policy maker Andrew Sentance reiterated that the central bank should raise its benchmark interest rate “slowly” to combat inflation as the British and world economies avoid a double-dip recession.

The bank needs to “gradually move interest rates up in a slow way which will not destabilize business confidence,” Sentance said in an interview on Sky News television yesterday. “One of the issues I would highlight is we haven’t seen the same dampening effect on inflation that we’ve seen in previous recessions.”

http://noir.bloomberg.com/apps/news?pid=20601087&sid=aTjUN8B.g8dU&pos=5

You must be joking or dreaming, Mr. Sentance. LOL !