Mixed messages, but BoE clear rates won’t rise far next year

It is fair to say that the Bank of England’s communications on the timing of the first interest rate hike have been muddled. But the Bank has been much clearer in its warning to the financial markets that interest rates won’t rise very far next year. We have been saying this for a while and think that interest rates will end next year at 0.50%, which is lower than priced into financial markets.

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