Kames CIO: Growth concerns will mean no UK rate hike next year

Kames Capital's CIO Stephen Jones expects the Bank of England to hold interest rates throughout next year, despite expectations of an upcoming hike.

Though the consensus is for a first hike in H1 2015, the chief investment officer has joined a growing number of investors who predict the central bank's Monetary Policy Committee (MPC) will err on the side of caution. Jones believes the MPC will submit to the pressures of slowing growth and hold off from hiking rates for another year. The CIO (pictured) said: "The rhetoric from central banks continues to differ from their actions. They have had a core bias to support growth and ignore inflation since the credit crisis, and I think that will persist next year. We do not expect a rate ...