It did, in fact, rise initially, then Carney made a series of statements including that the rate would increase to 1% by end 2020, after that, it went South quickly.


www.telegraph.co.uk/business/2017/11/02/bank-england-raises-interest-rates-uk-economy-grows-faster-expected/

Jeremy Warner of the Telegraph is an excellent economist but he's also an eternal pessimist, sadly, even pessimists are right sometimes. He holds that the removal of QE by various governments will bring a financial day of reckoning, unlike any we've seen before and raising interest rates slowly will only delay armageddon slightly. His logic is that asset prices have increased sharply under QE, housing in particular, and this means the average consumer has taken on more debt than they should have. As QE is withdrawn and rates begin to increase the consumer gets squeezed but more importantly, over-inflated asset prices start to deflate and we're beginning to see that in Australia the UK and in parts of the US. Where that leaves the banks is with asset prices that are falling in value and consumers who can't afford to pay, the effect on derivatives and equity markets for similar reasons is even worse, or so he tells us. Now I don't think Jeremy is a prepper of any kind, he's a smart chap who was schooled at the Sorbonne and comes from a well-regarded family of economists, none of which prevents him from being a raving nutter. But he does have a serious point, global debt is at an all-time high, sovereign debt especially, hence there must come a time eventually when creditors risk not getting their money back and stop lending and/or governments undertake debt forgiveness with all the mayhem that entails at all levels of society. It's going to be messy, eventually, in the meantime, party on.

 www.telegraph.co.uk/business/2016/02/12/creditors-must-brace-for-a-tsunami-of-losses-in-a-world-awash-wi/