Henderson's Ward: The case for an early UK rate rise has strengthened

Economist says domestic data supportive

Henderson Global Investors' Simon Ward has doubled down on his conviction that UK interest rates should rise imminently, even in the wake of global market turmoil.

Speaking after the MPC's decision to hold the bank rate at 0.5% once again, Henderson's chief economist said his view has held despite the sell-off in global markets in August. He cited domestic data, in particular rising inflation, wages and house prices, as reasons for the Bank of England's Monetary Policy Committee to raise rates well ahead of February 2016; the earliest date forecast by analysts for a rise. "I believe that the case for an early rate rise has strengthened. "Core inflation is turning up, house prices are accelerating, the "living wage" will add to pay pressures f...