The Governor of the Bank of England has said that he needs to see evidence that inflation “sustainably on the downward path” before considering reductions of interest rates. The Bank of England has raised interest rates for the 14th time in a row as it signalled that borrowing costs could stay high for a prolonged period of time to keep a lid on inflation. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn