Britons Need to ‘Hold Our Nerve’ Amid Soaring Interest Rates, Says Sunak

Britons Need to ‘Hold Our Nerve’ Amid Soaring Interest Rates, Says Sunak
Prime Minister Rishi Sunak speaks during a PM Connect event at the IKEA distribution centre in Dartford, Kent, England, on June 22, 2023. Kin Cheung - WPA Pool/Getty Images
Alexander Zhang
Updated:

Britons need to “hold our nerve” with interest rate hikes as “there is no alternative” to stamping out inflation, Prime Minister Rishi Sunak has said.

Appearing on the BBC’s Sunday with Laura Kuenssberg programme, he defended the Bank of England’s (BoE’s) decision to raise interest rates from 4.5 to 5 percent, a 15-year high.