But before rates are likely to rise there will be an arguably even more important event determining our economic health - the Budget.
The Coalition's role in bolstering the economy seems to have been forgotten. A "Budget for Growth" is expected which needs to be a lot more than vague expressions of wishful thinking.
This is the moment to articulate clearly a national strategy for growth with policy measures to encourage investment, reform rules that restrict business activity and make private sector job creation a priority. The MPC has part of the answer. It's time for George Osborne to deliver too.
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