UK braces for rate hike never experienced by young debtors

London

AFTER more than six years of record-low interest rates, the looming increase hinted at by Bank of England (BOE) policymakers may come as a shock to consumers driving Britain's recovery.

As BOE governor Mark Carney signals that rates could rise early next year, officials are weighing the potential costs for the fastest-growing economy in the Group of Seven. A risk is that highly indebted households curtail their spending, putting the brakes on an expansion getting no help from exports.