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When will BoE rise interest rates?

Monday, Sep 21 2015
There were no major data from the UK yesterday. Last week data showed British wages increasing at their fastest rate in over six years, keeping alive hopes that the BoE will tighten policy around the middle of next year, though inflation fell back to zero. Comments from the Bank of England’s Chief Economist Andy Haldane threaten to suppress support for the Pound) as we head into the weekend market close. 
 
Haldane used a set piece speech earlier to suggest that the Old Lady of Threadneedle Street could countenance cutting Base Rate to below zero levels in an effort to ward off the creeping threat which deflation poses to the domestic economy. Haldane suggested that the argument for increasing UK interest rates remains, ‘some way from being made’, and went on to assert that, ‘were the downside risks I have discussed to materialize, there could be a need to loosen rather than tighten the monetary reins as a next step to support UK growth and return inflation to target.’
 
Sterling is currently being traded few points above 1.55 level. Pair is likely to find support around 1.5450 handle and resistance above 1.5550 area.
More in this category: « Existing Home Sales fell more than expected Aussie higher after House Prices Index rose by 4.7% »

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