Economists' consensus: No rate rise until November

The government will fail to deliver planned spending cuts within the next Parliament and interest rate rises are off the table until summer at least, according to a survey of economists.

In the annual Financial Times survey of more than 80 prominent economists, a majority of those surveyed said the government will deviate at some point over the next Parliament from its plans to cut spending further. Some 52 of the 87 who answered a question on spending said the next government will deviate from the plans, which are aimed at reducing the UK's current account deficit. A further 12 believe the outcome will depend on the election result, with the remaining 19 believing the next government will hold firm whatever the outcome. A number of the economists added that contin...