Invesco Perpetual's Read clashes with Woodford over UK rate rise

Read (pictured) noted money markets are pricing in a hike later this year, while commentators expect a move early in 2015. "I think it is hard to argue against the idea there will be one hike before the general election, and they won't want to move too close to the election either," he said. "So I would expect a hand on the tiller before the general election." Interest rates have been on hold in the UK since they were dramatically cut to a record low of 0.5% at the height of the financial crisis in March 2009. Since then, the UK economy has recovered, while equity markets have d...