Buxton: November or bust for pre-election rate rise

clock

The Bank of England will hold off on hiking rates for six months if it does not act by November - leaving a "clear run" for investors until the general election, Richard Buxton has predicted.

Minutes from August’s Monetary Policy Committee meeting, released last week, showed two members voted for a rate hike – the first such move in over three years. Since March this year, the consensus view has been for rates to go up in Q1 2015, and data this month showing CPI inflation fell from 1.9% to 1.6% in the year to July seems to support this view. One national newspaper last weekend claimed there is a ‘pact’ between Governor Mark Carney and Chancellor George Osborne to keep rates on hold before the election. The story was swiftly denied by officials, but Old Mutual Global Invest...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

OBR independence 'a major advantage' for UK economy

OBR independence 'a major advantage' for UK economy

Treasury Committee hearing

Alex Sebastian
clock 20 May 2026 • 4 min read
Bank of England warns of future rate uncertainty after vote to hold at 3.75%

Bank of England warns of future rate uncertainty after vote to hold at 3.75%

One vote to hike rates

Michael Nelson
clock 30 April 2026 • 2 min read
Navigating an uncertain environment: Applying a disciplined, data-driven approach

Navigating an uncertain environment: Applying a disciplined, data-driven approach

'​Looking ahead, the fundamental case remains constructive'

Fahad Hassan
clock 28 April 2026 • 2 min read