He commented "While this would mark a climb out of the sub-£10bn doldrums, where the market has languished since the credit crunch, it does nevertheless represent a rather muted position,"
He went on to say "We think there are good grounds to be optimistic that the vast majority of households will cope with a slow but certain transition to more normal interest rates. This seems to be the game-plan which the Bank of England has in mind."
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