Case for rise in rates building

TWO OF City A.M’s panel of economic experts voted for a hike in rates again this month, saying the economy appears to be building strength quickly.

Seven members of our shadow monetary policy committee (MPC) remain against hiking rates, but the situation marks a dramatic turnaround from the summer, when some members were still in favour of increasing the asset purchase facility, the Bank of England’s QE programme.

The Bank’s own decisions on monetary policy are released today. Analysts expect the Bank to keep rates at their current low level.