Bank Of England's Carney Running The Circus With New Stance On Rates

The Governor of the Bank of England, Mark Carney, has validated the view that UK interest rates may rise earlier than previously expected. In a speech yesterday, Mr. Carney stated that “ could happen sooner than markets currently expect” implying that the consensus forecast for the first rise in interest rates expected to happen in March of 2015 is wrong. Solely based upon Mr. Carney’s statement, the new thinking is that interest rates will rise before the end of 2014 and consequently the ...