Mark Carney

Most members of the Bank of England's Monetary Policy Committee (MPC) backed their new governor's policy of forward guidance on interest rates, minutes from the Committee's latest meeting show.

Fixed income managers have cautioned the Bank of England (BoE) will be forced to backtrack on its forward guidance measures as it has been too pessimistic over the state of the UK economy.

The Bank of England has said it will not raise the base rate of interest before the unemployment rate falls to 7% and warned investors are still expecting rates to rise sooner than is likely.

Bank of England (BoE) governor Mark Carney is to unveil new guidance later today, giving the country more certainty on interest rates and economic stimulus.

Bank of England Governor Mark Carney will this week set out his long-awaited strategy for interest rates with a set of policies designed to reassure borrowers that rates will stay low for many months to come.

FIVE THINGS

Asian equity markets have followed their European counterparts higher in overnight trading, but investor attention is now firmly focused on the US once again.