LONDON (Reuters) - Mohamed El-Erian, an advisor to Allianz (ETR:ALVG), said on Monday the Bank of England should hike interest rates by one percentage point if British finance minister Kwasi Kwarteng does not reverse the measures in his mini budget that have thrown markets into a tailspin.
"If I were the governor and the chancellor is not modifying his plan, I would increase interest rates and not by a little, by 100 basis points, by one full percentage point to try and stabilise the situation," he told BBC Radio.