Bank of England governor says people should prepare for a few interest rate rises

The governor of the Bank of England has said that an interest rate rise is "likely" this year, but any increases will be gradual.

Mark Carney told the BBC that major decisions had to be taken on Brexit, including on the detail of the implementation period and the shape of a final deal.

There would also be a vote in Parliament on the shape of the future relationship between Britain and rest of the EU.

All those events would weigh heavily on how fast interest rates rises would occur.