Could it be 2020 before the UK sees interest rates rise beyond 0.5%?

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Did everything change on 24 June 2016? The market is a discounting mechanism and the move that followed the result of the EU referendum showed that the majority of market participants had not anticipated the outcome that the UK's voting population produced, writes AXA IM's Jamie Forbes-Wilson.

Share price moves were mostly logical with the worst of the sell-off being targeted at companies with a UK sales bias.  Before the vote there had been speculation around UK interest rate increases but nothing in terms of action from the Monetary Policy Committee. BoE governor Carney hints at summer rate cut Rates have been frozen at an all-time low since March 2009 and the market is now pricing as much as a 53-month wait until the first UK interest rate hike. That potentially takes us to the year 2020 before interest rates rise beyond 0.5%. For mortgage holders, this could mean ...