Odds on for 2017 for interest rate rise?
What’s your bet for the timing of the long-predicted interest rate rise?
Many experts have pushed back their predication to as far back as 2017, following the latest reports from the Bank of England.
Most commentators were expecting an increase next spring or summer (2016) but with inflation set to remain low there is no immediate rush to push rates up.
With the Bank’s policy of giving forward guidance seemingly in tatters, it could be anyone’s guess when rates will start to creep up.
The Chinese economy and global instability may, of course, yet play a key role as well as the property market.
Bank Governor Carney described the UK economy as robust and resilient following the reports yesterday but is being cautious.
Other figures also brought good news with a very welcome and long-awaited increase in manufacturing output – up by 0.8% in September. This is the biggest monthly increase since April 2014.
Read more on the BBC website at http://www.bbc.co.uk/news/business-34733480
What’s your bet for the timing of the long-predicted interest rate rise? Many experts have pushed back their predication to…