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First UK rate hike pushed back to Feb 2015 - Nomura

FXStreet (Bali) - Nomura FX Strategists are pushing UK rate forecast back by three months to February 2015 from November 2014.

Key Quotes

At the August MPC meeting two members voted in favour a rate hike, but the majority seem relaxed about the risks of waiting too long.

They are watching wage growth in a way that appears inconsistent with its backward-looking nature and the statements recognising that fact in the Inflation Report.

We doubt there is sufficient time for the hesitant MPC members to see enough evidence here and hike, so we are pushing our rate forecast back by three months to February 2015.

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